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Go back and reread my postReally? Then when exactly do you lie and say they started to rise? Make it a better lie than you have provided up to this point.
(#118)And you continue to put your ignorance on full display.In others, you are all talk.
You are using a whole lot of unnecessary words just to say “I got nothin’”And you continue to put your ignorance on full display.
I am all research but all you want to do is have someone else do the work for you since you are incapable of doing any research or of critical thought. In other words, a democrat clown.
Once again, you have it backwards. The prices rose during the lockdowns. You just had to live through it to know that. I bet that the rates at the home they keep you in rose, but you did not notice because you weren't allowed out to see for your own lying self.Go back and reread my post
I said prices fell during the close-downs. It had nothing to do with the president and everything to do with a massive drop in travel and consumer spending. What we are seeing now sucks because we got spoiled by the low pump prices but probably more closely aligns with what has been the norm for a while.
The US has never been energy independent. That's another stupid Trump lie.We were energy independent under Trump. I doubt we are that way under Bidung as he closed off the oil in America.
Gas under Trump was 1.70 under Bidung its 3.59 and risings. Sounds like your post is a lie.
You waste bandwidth by your continued demands that all accede to your demands for information, while never trying to gather it yourself.You are using a whole lot of unnecessary words just to say “I got nothin’”
Nope. During the lockdowns they cut production. Even Iran was at a 40 year low.Once again, you have it backwards. The prices rose during the lockdowns. You just had to live through it to know that. I bet that the rates at the home they keep you in rose, but you did not notice because you weren't allowed out to see for your own lying self.
Production has nothing to do with pricing.Nope. During the lockdowns they cut production. Even Iran was at a 40 year low.
Cool, your so special. Now show us proof the prices were rising during lockdown. I ‘ll be happy to show you (more) proof they fell.Once again, you have it backwards. The prices rose during the lockdowns. You just had to live through it to know that. I bet that the rates at the home they keep you in rose, but you did not notice because you weren't allowed out to see for your own lying self.
If you choke back production, the ppb goes up, but during the lockdowns demand collapsed.Production has nothing to do with pricing.
Pricing is driven by demand, which was decreased with the lockdowns, hence driving up pricing. Cause and effect.
Cayman doesn't know anything about the oil business.Cool, your so special. Now show us proof the prices were rising during lockdown. I ‘ll be happy to show you (more) proof they fell.
I agree with the original post.Trying to change the subject is a real indication that even you realize that you have lost the discussion.
Go back and read the OP and you will see that your idiotic comments have nothing to do with the subject.
Typical of a liberal loser.
Production is part of it. When they want to raise prices they cut production.Production has nothing to do with pricing.
Pricing is driven by demand, which was decreased with the lockdowns, hence driving up pricing. Cause and effect.
www.bls.gov
Yep. Every body cut production.From the barrel to the pump: the impact of the COVID-19 pandemic on prices for petroleum products : Monthly Labor Review: U.S. Bureau of Labor Statistics
This article details price movements for petroleum products in the context of the coronavirus disease 2019 (COVID-19) pandemic.
Prices dropped precipitously in March and April 2020. The combination of falling demand, rising supply, and diminishing storage space caused such a pronounced crude petroleum price plunge that, on April 20, crude petroleum traded at a negative price in the intraday futures market. Producer prices for crude petroleum declined 34.0 percent in March and 48.8 percent in April. In all, the PPI for crude petroleum fell 71.0 percent from January to April. The March and April decreases were the two largest monthly declines since the index was first published in July 1991. The trend was similar for U.S. import prices. The Import Price Index for crude petroleum declined 34.1 percent in March and 36.6 percent in April. In all, prices for crude petroleum imports fell 62.8 percent from January to April. As was the case with producer prices, the March and April declines in the Import Price Index were the largest 1-month decreases since the index was first published on a monthly basis in September 1992.
The rebound: partial recovery and production cuts
After falling sharply during the early months of the pandemic, crude petroleum prices began advancing at the end of April 2020. Producer prices for crude petroleum partially recovered from April to June, and import prices recorded a similar recovery from April to July. The price upturn began with a supply decrease, with a positive shock to demand eventually contributing as well.
Facing pressure from the United States and having no place to store any further petroleum surplus, Saudi Arabia called an emergency meeting of OPEC+ from April 9 to 12, 2020.11 During the meeting, OPEC+ members agreed to record production cuts and, this time, Russia complied as well. The agreement called for a composite cut of 9.7 million barrels per day through the end of June, the largest production cut ever.13 (At a followup meeting, the cuts were extended through the end of July.) Following the agreement, OPEC production fell to its lowest level since May 1991. In the end, Saudi Arabia, Kuwait, and the United Arab Emirates cut production beyond the amounts that were negotiated, and production cuts were also adopted by non-OPEC+ countries. From January to May, the United States and Canada—the first- and fourth-largest global oil producers, respectively—reduced output by a combined 3 million barrels per day.
By May 2020, amid partial business reopenings in the United States and abroad, petroleum demand was showing signs of a rebound. The IEA estimated that the number of people under some form of lockdown peaked at around four billion in late April, even as restrictions in some countries began to ease.14 The first to emerge from the demand slump was China, where petroleum demand in April was almost back to levels seen 12 months prior.15 In May, crude petroleum inventories in the United States fell for the first time since January, indicating that demand was starting to outpace reduced supply.
Just look at groceries and automobiles you moron.Cool, your so special. Now show us proof the prices were rising during lockdown. I ‘ll be happy to show you (more) proof they fell.
If it collapsed at all, it would be because no one had any income to speak of. Businesses closed, jobs denied. That kind of thing.If you choke back production, the ppb goes up, but during the lockdowns demand collapsed.
Which explains why you post so much garbage and lies on the subject.I agree with the original post.
Or force cuts in production by closing businesses when there was no need to do so.Production is part of it. When they want to raise prices they cut production.
Exactly. Atlanta traffic was down by half and the air was so clean. Nobody other than a moron stores oil above ground so they cut production.If it collapsed at all, it would be because no one had any income to speak of. Businesses closed, jobs denied. That kind of thing.
Here is a hint for you oh great one. No, money, you can't spend it.
