RE:RE:RE:RE:Canada’s true inflation rate Its about the supply meeting the demand.
For 2023 world demand is up appr 2.2M bbl/day to appr 102.2M bbl/day.
Opec is expecting appr same increase of 2.2M bbl/day on top of that for 2024.
Sure there is capacity for some to ramp up even higher.
Same could be said for many products.
Coco-Cola plants around the world could probably produce more Coke than they presently produce if the demand for it was there.
But why would you do it if it didnt translate into more sales?
liljohnnyjoke wrote: if the economy is as robust as they state they would normally have to be increasing output to try and meet demand and oil price would still be going up, not making big cuts to supply to prop prices up.
and part of that is likely revenge on Biden for trying to dictate world oil prices himself.