I told you so! The Faux US Oil BOOM finally Exposed! LIES, LIES LIES I have posted over and over again about all the manipulation going on depressing the price of oil. This lie about a US oil boom was in just about every article in the mass media. Remember they were saying how the US oil production was going to swamp the market with oil. Posters like Kavern believed this non sense when he posted that the major oil companies capital spending supported this move and that I was a fool to not believe this garbage. Like I have posted over and over you need to use your brain and not just believe everything you read especially from the mass media online. But this is only one of the attempts at manipulating the market and keeping oil prices down. These paper market manipulators are in total control of the market right now. As I have posted before it is a make believe oil market. Read this from a CNBC article.
"Oil prices rise as U.S. crude production is seen growing more slowly this year"
PUBLISHED WED, FEB 7 20248:50 AM EST
Crude oil futures rose for a third day as U.S. production this year is expected to grow less than expected, easing worries that the market is oversupplied.
The U.S. pumped a record 13.3 million barrels per day of crude oil in December, but output is not expected to surpass this level until early 2025, according to estimates from the Energy Information Agency.