2bltap Loc: Move to the Mainland

They Are Purposely Driving Up Prices': GOP Senator Assails Biden Administration Over Energy Costs:

Like I and others have stated here on OPP. Every single crisis created by Biden and his minions is factually intentional. Hope our progressive members fully understand that they are getting screwed as well and are not happy about it like the rest of us.
Mike

https://youtu.be/PmZ-zNuTzN0

steve66613

Oh, for goodness sakes….OPP progs live in their mom’s basement, tap out BS on her laptop and eat Ramen noodles. They haven’t seen the light of day, let alone crossed a border or paid taxes….ever.

One exception: Woodguru does herd some goats….at least he/she calls it herding.

lpnmajor Loc: Arkansas

Try finding out how the oil market works.

America 1 Loc: South Miami

Crude Closes Higher As OPEC+ May Cut Output If Countries Tap Reserves
Rich Asplund - Barchart - Mon Nov 22
January WTI crude oil (CLF22) on Monday closed up +0.81 (+1.07%),
and January RBOB gasoline (RBF22) closed up +4.64 (+2.15%).

WTI crude oil and RBOB gasoline prices on Monday rebounded from 1-1/2 month lows and closed moderately higher. Crude prices on Monday shook off early losses and moved higher after OPEC+ said that it would weigh adjusting its crude production levels if the world's largest crude-consuming countries go ahead with plans to release crude supplies from their petroleum reserves. Crude prices initially opened lower Monday after the dollar index jumped to a 16-month high and after German Chancellor Merkel called for tighter restrictions to stem the surge in new C***d infections in Germany, Europe’s largest economy.
Last Thursday's monthly report from OPEC was supportive of crude prices as it showed OPEC Oct crude production rose by +217,000 BPD, well below the cartel's share of the OPEC+ monthly 400,000 BPD supply hike.
A bearish factor for crude is reduced demand from China after China's General Administration of Customs data showed China Oct crude imports fell -8% m/m to 8.9 million bpd, the lowest in more than three years.

In a bearish factor for oil prices, Iran's deputy foreign minister on Nov 3 said that negotiations to revive the 2015 nuclear deal would resume Nov 29 in Vienna. The talks are likely to be difficult, but a successful conclusion would mean that some sanctions on Iran would be dropped and that Iranian crude oil could start flowing into the world markets again.

A decline in global crude oil stored on oil tankers throughout the world is bullish for crude prices. Vortexa on Monday said that crude oil stored on tankers that have been stationary for at least seven days in the week ended Nov 19 fell -3.1% w/w to 94.89 million bbl.

Last Wednesday's weekly EIA report showed that (1) U.S. crude oil inventories as of Nov 12 were -7.3% below the seasonal 5-year average, (2) gasoline inventories were -4.2% below the 5-year average, and (3) distillate inventories were -5.3% below the 5-year average. U.S. crude oil production in the week ended Nov 12 fell -0.9% w/w to 11.4 million BPD, which was -1.7 million BPD (-13.0%) below the Feb-2020 record-high of 13.1 million BPD.
https://www.barchart.com/story/news/3698163/crude-closes-higher-as-opec-may-cut-output-if-countries-tap-reserves

Wonttakeitanymore

They’re pushing for electric cars so they are sucking up all reserves and shutting down everything else!!