You can't make this up: Here's a chart of oil prices with ev...
You can't make this up:
Here's a chart of oil prices with every OPEC-related production cut this year.
Back in late-2022, the US announced they wanted to refill the Strategic Petroleum Reserve (SPR) when oil prices hit the $67 to $72 area.
Every single time oil prices have fallen to $67-$72, OPEC has taken action this year.
Last week, Russia and Saudi Arabia agreed to cut 1.5 million barrels per day of production in August.
This came as crude oil prices hit $67.00 to the TICK and now oil prices are pushing $72.00.
Energy resources are being weaponized.
A major inflationary risk.
Here's a chart of oil prices with every OPEC-related production cut this year.
Back in late-2022, the US announced they wanted to refill the Strategic Petroleum Reserve (SPR) when oil prices hit the $67 to $72 area.
Every single time oil prices have fallen to $67-$72, OPEC has taken action this year.
Last week, Russia and Saudi Arabia agreed to cut 1.5 million barrels per day of production in August.
This came as crude oil prices hit $67.00 to the TICK and now oil prices are pushing $72.00.
Energy resources are being weaponized.
A major inflationary risk.
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straightforward Jack : Good time to start digging deep into alternative energy sources. Better for the economy and the environment. Win-win.
72736523 : The market is quite stable now, and it may fall later