Home / News / OPEC members may 'cheat' on oil production cut: Former Shell Oil president

OPEC members may 'cheat' on oil production cut: Former Shell Oil president

Former Shell Oil President John Hofmeister discusses global oil demand amid the coronavirus.

Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

Watch full episodes of FBN Primetime shows
Lou Dobbs Tonight: https://video.foxbusiness.com/playlist/longform-lou-dobbs-tonight
Kennedy: https://video.foxbusiness.com/playlist/longform-kennedy

Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness


About approid

Check Also

Good news: People are getting better and families are reuniting | Humankind

This is the good news we all need. Patients are beating the disease and going …


  1. Never heard there is no space to store oil. We filled up all 20k ton tankers @12 in ca1975

  2. American Diplomat's are basically communist criminal's it's sad to even think about

  3. Oil is the long short of this decade full stop


  5. Nice to save socalisim in America for the mega rich.I mean you cant expect million or billionaires to take a financial hit, that’s only for the poor people.
    The American way.
    Bail out the million/billionaires.

  6. Russia wants Trump to be the world policeman and punish any countries under cutting Russia.

  7. Lier, these people find a excuse for everything. Tornadoes, hurricane, floods and anything!!! What's next, coming to a theater near you???

  8. OPEC cut production to keep the price up, whilst america increased production so who cheated?
    YES AMERICA the one country you cannot trust at all.
    Trumps only good point he has really made clear that Americans cheat and lie for everything and cannot be trusted at all.

  9. The common voter is oblivious to Democrats undermining this country just for the sake of politics.

  10. Kudos for getting the ex CEO of a Major to talk about oil and not some journalist "expert".

  11. thank you. I've seen what this guy right here is had to go through in front of democrats

  12. Interesting, John Hopkins Report 28,998 US deaths yet other Worldometer publish 35,995 US deaths. The America government is clearly hiding the true figures (April 17th)

  13. Trump negotiated that the oil companies stop producing so much per day to raise price of oil again. Their executives aren't making 25 million, they're only making 20. Trump can't let his donors have that happen.

  14. That's a lie because our reserves are over full

  15. Since when is a 'cartel' in anyone's interests…
    Price fixing is communism…
    There you see you lay down with the communist…and you begin thinking they were right…all along…
    Trump encouraging Putin and the Saudi's to do a deal/fix…seriously?
    Guess the 'free market' is only for the little people…
    ( now I wonder where I heard of that one before )

  16. Oh yeah, I'm worried about Shell's profits….lol

  17. If any country would cheat on an agreement, it would be America, under Trump's criminal mismanagement.

  18. That old boy has a lot of make up and lipstick on. And I don't want to kiss him.

  19. Oil has caused WAR GREED THIEVERY

  20. They are drowning in oil…….

    There’s no more room left…..


  21. WHY should Oil be Political? Get back to Gold! Our storage is filled, i heard, makes no sense.

  22. You got a bail out! Thousands

  23. May cheat? That was the first thing they taught us in economic class. Those that cheat win… 😂

  24. Why would they tell us the real. The whole country is failing because of one man.

  25. Put a cork in the Persian gulf, block the tankers coming out of the Persian gulf. F China. Let them by their oil from us take China to court immediately.

  26. 🇺🇸 WE better be building our stockpile. 🇺🇸

  27. 🇺🇸 Going to screw people over some how. Why can't we enjoy the price?? Quite manipulating the price for profit. 🇺🇸

  28. Can’t believe the Dems chose to not buy it but maybe POTUS can

  29. Why do Democrats Hate America and Americans?

  30. There must be enforcement protocols to punish those who cheat.

  31. Oil markets needed overhaul for a long time. The time is now.

  32. IF OPEC can’t prevent cheating amongst OPEC members, then clearly, OPEC itself has outlived its usefulness.

  33. They only cheat themselves

  34. No they are not cheating; the OPEC+* oil cut deal just made does not come into effect until May 1st so of course prices will stay low till then; there needs to be context put into these discussions

  35. Green new deal being forced on people by derp derp state🤮👌

  36. OPEC members cheating, like that's news.

  37. Describes himself as a capitalist, wants socialist bailouts and finishes by complaining about there being no common sense.
    China and India are buying oil. Why not sell to them instead of asking money from the government? Talked about entitled people. Geez.

  38. This is obvious oil warfare. No wonder its so stupid these days.

  39. Drop OPEC. We have our own

  40. To not use today's pricing to fill the national oil reserve is really nuts. Dems are nuts and unfit to govern.

  41. Trump said more then a week ago he was filling the reserve because it was a good time to buy……………………….

  42. Gallon of motor oil still higher then hell @ the auto parts store ?


  44. I wouldn't trust them as far as I could throw them. AMERICA FIRST

  45. Why is it a terrible and radical idea to have a healthcare for all system, but it is ok to spend trillions of tax dollars to private oil companies ??
    Fox can be very amusing

Leave a Reply

Your email address will not be published. Required fields are marked *