yeah, who would possibly do something like that ahead of midterms? Archived Message
Posted by VIV on October 16, 2023, 8:13:27, in reply to "before the midterms he released a bunch of oil from our strategic reserve "
https://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Rose-And-Crashed-In-2018.html "This past summer, China had become a major importer of U.S. oil to the tune of 500,000 BPD. But the trade war with China resulted in China halting imports of U.S. oil. This loss of market hurt U.S. oil producers, and helped push inventories higher in the U.S. This further hurt U.S. oil producers by pushing prices down. But then President Trump also undercut oil producers by waiving sanctions on Iran. Leading up to the implementation of sanctions on Iran that would cut off their oil exports, Trump persuaded Saudi Arabia to begin pumping more oil to compensate for Iran’s pending lost exports. Then, just before sanctions were set to go into effect, Trump announced that waivers would be given to a number of countries to allow them to continue to import Iranian oil. Among those countries was China, which ironically means U.S. oil producers lost business to Iran as a result of this decision. Saudi Arabia felt double-crossed by the decision to grant waivers, which resulted in too much oil in the market. The price of oil predictably plunged. But I expect Saudi to approach things differently in 2019." and you know that $6B of iranian money you love to bring up? https://www.newsweek.com/donald-trump-oil-waiver-iran-hamas-israel-1833864
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Message Thread: | This response ↓
- US Crude Oil production just hit an all time high - VIV October 16, 2023, 7:26:05
- You mean the continued upward trajectory from 2008-2016? - OB25 October 16, 2023, 13:09:51
- US makes deal with Venezuela - ECEIllinois October 16, 2023, 11:54:58
- also, this is all well and good, but we need more refining capacity. - VIV October 16, 2023, 10:32:12
- Doesn’t help the ones we already have routinely light up in flames - illini thunder October 16, 2023, 12:20:04
- would you say a pipeline would also help? perhaps an XL one?* - bigbop85 October 16, 2023, 10:32:42
- how many times are you going to walk into this rake? - VIV October 16, 2023, 10:37:01
- no you're correct, adding more reliable, higher output oil supply - bigbop85 October 16, 2023, 13:02:30
- as assassin says, another day, another locker stuffing* - suburbanmyth October 16, 2023, 12:41:52
- It's bop. - WhitmansFolly October 16, 2023, 12:37:51
- Hate those charts. - timmer October 16, 2023, 9:52:10
- That graph when it hits 2017… - bigbop85 October 16, 2023, 8:08:24
- Didn’t Biden release a ton of oil reserves a few weeks ago? - CubsWonWorldSeries October 16, 2023, 7:55:09
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