RE:RE:RE:RE:RE:RE:RE:What news caused the tank in the last few minutes?sebastian2 wrote: Both have pros and cons. Remeber the first thing Joe did was cancell Keystone XL, that was not good for Canada. Trump will want new NAFTA again and tarifs also not good. But if there is less oil prod in US under the dems and more in Canada under the Conservatives and maybe more pipelines to diversify that would be ideal.
"Production of crude oil in the U.S. has increased by 68% in the past 10 years. The U.S. produced 7.91 million barrels per day in November 2023. The Independent Petroleum Association of America said that improvements in fracking technology have led to the record-levels of production. On March 11th the US produced more oil than any other country ever...
So any increase in US oil production likely will tilt the supply and demand to drive oil down further