The U.S., now the world's largest oil producer, is playing the role of disruptor in the global energy market.
"It's really become such a huge story in terms of U.S. production, but also because of our policy. The U.S. is a swing producer but it's also through policy that we've taken 1.6 million barrels off the market," said Helima Croft, global head of commodities strategy at RBC."We've been really lucky we've had the U.S. producers. That's where the U.S. currently plays a role in helping out the market. Trump talks to the Saudis. Trump sanctions Venezuela.
The U.S. has sanctioned Iran for its nuclear program and Venezuela for the human rights and other abuses by President Nicolas Maduro's regime, which is supported by the military. Both countries are members of OPEC. But Trump periodically presses OPEC about high prices in tweets. The price of West Texas Intermediate crude reached a high in the futures market of $57.88 per barrel this month, gaining 37 percent from its Dec. 24 low of $42.36. But that low came after a sharp 45 percent decline from the $76.90 it was at on Oct. 3.
Keep Rocking Baby $CHK where you at
Making Russia and the Saudis squeak!!
Are we not a net exporter yet?
Bring it, and use it at home. The problem is the shale/frack depletion curve is quite rapid compared to pooled oil.
Gas prices have risen 25% per gallon in the last 3 weeks, so there's that... AmericaLastApparently
AOC be like
POTUS realDonaldTrump Thank You Mr. President
100% stupid. That shit should be our last resort after draining everyone else's supplies and the world has started fighting over it.
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