Posted on 07/13/2016 9:39:07 AM PDT by bananaman22
Oil prices have been crushed over the past two years because of a glut of production. With supplies falling off, particularly in the U.S. shale patch, prices have begun to firm up. But another glut that has built up and has stubbornly refused to fall threatens another oil price downturn.
In its July Oil Market Report, the International Energy Agency warned about shockingly high levels of refined products sitting in storage. Gasoline, diesel and heating oil are built up to such high levels in so many parts of the world, that a sharp rise in crude oil prices is unlikely in the short run.
(Excerpt) Read more at oilprice.com ...
Obummer would state that cheap oil prices create terrorists!-)
Good!
Love it. I’m shopping for a 2016 Texas Edition Chevy Silverado! Hell, it will get better mileage than my old F-150.
In the short run, good.
How horrible. I cringe every time I go to the gas pump. How much lower can it go? Is there someplace i can sent an extra contribution to offset the famine, blight, and other disasters I am causing by being able to fill up for under $50?
I’d buy a new F150 over buying that new Government Motors Silverado.
I’m still waiting for the $6.00 a gallon gas we were promised when Obummer was first running for the Presidency...
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