It has come down because of three reasons. One is leases were again allowed.
Two was the use of strategic oil reserves.
Three was because of oil companies working hard to increase production
The only part he really could be said to have played a part in was allowing limited leasing to resume. Releasing oil reserves was not a good move, especially when part of those reserves were sold off to China and did not stay in this country.
If I gave him credit for all the price hIke then I would have to give him credit for a very small drop in price.
There are only two problems with that.
One I never placed all the blame n him.
Two I would never give someone who had little effect on a price decrease of a small amount much credit.
Only 15 % of the strategic reserves had been sold to registered bidders.
From $5.29 a few weeks ago to $4.29 now. Still far higher than the $1.70 under Trump before he left office.
Thank you Mr Putin for lowering our gas prices![]()
Do you read Dan Yergin? He knows more about the oil business than all the talking heads.
Interesting, isn't it?
![www.cnbc.com](https://image.cnbcfm.com/api/v1/image/106484000-1586545389328gettyimages-1209596288.jpeg?v=1586545436)
OPEC and allies' oil production cut is Trump's 'biggest and most complex' deal ever: Dan Yergin
Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago "would not have seemed possible."