Post by
BlackBear22 on Nov 25, 2024 12:46pm
Drill baby drill Cont'd
With tensions in the Middle East pointing towards a potential ceasefire, the threat on world oild supply has diminshed somewhat, coupled with OPEC's planned increase in production has weakened the price of oil.
Despite that, there are still calls from Trump's appointee that oil production in the U.S. should be ramped up. However U.S. shale producers facing a crude glut next year have little incentive to ramp up output.
Economics trumps politics in some situations.
BB