We are producing more oil than ever. Why should prices go up?
“We are producing more oil than ever. Why should prices go up?”
After Trump called out Iran yesterday, oil prices went DOWN! TDS is wearing thin.
We still have net imports of 20% of our oil use. Demand exceeds supply. If the world price goes up, so does our price.
Supply and demand. Trump’s economic policies have been working. The world economy is growing. This means more people want to use oil products. The oil market is either slow to respond, or OPEC-plus limits production and the price increases due to supply not keeping up with demand.
We are producing more oil than ever. Why should prices go up?
I think they are building at one new refinery. This news must have been brought to us by the “Peak oil” group.
Because a whole lot of oil comes out of the Arabian Peninsula.
Because prices are set in a global market. A disruption of one or more major suppliers affects everyone.
WE are producing more oil than ever. But Venezuela and Iran are collapsing in oil production, and many nations’ oil use is soaring.