Oil companies are profiting from high prices, should they drill more?

U.S. oil and natural gas companies face a problematic calculus with geopolitical consequences. Do they gamble on the Ukraine war keeping

When President Barack Obama lifted the oil export ban in 2015, American companies began cutting into OPEC’s market share. Saudi Arabia’s Crown Prince Mohammed bin Salman disapproved. He convinced OPEC to keep producing and let the price drop as Americans flooded the globe with crude.. Years of low oil prices devastated the North American oil industry and sent investors fleeing.

Prices dropped into the teens as oil producers scrambled to shut down wells. Then, as the economy slowly began to reopen, OPEC and Russia agreed to add 400,000 new barrels a month to meet growing demand. Russia is the world’s second-largest oil producer, so when Putin ordered troops to Ukraine traders, worried about losing supply, drove up prices.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Oil Tops $110, Stocks Move Higher as Investors Eye UkraineStock indexes rose and oil prices jumped, as Russia pounded Ukrainian cities and investors evaluated testimony from Federal Reserve Chairman Jerome Powell. On behalf of the Brazilian people, apply sanctions against the Brazilian president jairbolsonaro for supporting Russian President Vladimir Putin! 🇺🇦❤️🇧🇷❤️🇺🇦❤️🇧🇷 Couple of months ago I came across a recommendation about Arnoldnike93 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent _elizabeth467 guided me and help me make a living through bitcoin with my coinbase app, I recommend you to meet her now and also be a beneficiary of good work
La source: WSJ - 🏆 98. / 63 Lire la suite »