g5000
Diamond Member
- Nov 26, 2011
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Saudi Arabia, Russia to continue voluntary oil cuts
Saudi Arabia and Russia on Wednesday said they were continuing voluntary oil cuts to year end as tightening supply and rising demand support oil prices.
www.reuters.com
Saudi Arabia and Russia on Wednesday said they were continuing voluntary oil cuts to year end as tightening supply and rising demand support oil prices.
[snip]
Saudi Arabia, the OPEC de facto leader, said it would continue with its voluntary oil output cut of one million barrels per day (bpd) for the month of November and until the end of the year and that it would review the decisoin again next month.
Meanwhile, here at home:
The U.S. is pumping oil faster than ever. Republicans don’t care.
The GOP narrative has a major hole: U.S. oil production — already the highest in the world — is on track to set a new record this year, and will probably rise even more in 2024. But the ever-increasing flow of U.S. crude has failed to keep a lid on gasoline prices, showing once again that a global market drives the fuel prices that shape presidents’ political futures.
Gas prices keep falling and it's a trend that should spread
Yes, it's true. Gasoline prices are falling across the United States.
And the declines are starting to be meaningful, according to data from the American Automobile Association. In a few places, in Georgia and elsewhere, pump prices have fallen below $3 a gallon, a trend that should spread.
.
We'll have to wait and see how the war in Israel affects oil and gas prices.
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