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re: Oil Price Article: Why OPEC+ Didn’t Respond To U.S. Calls For More Oil
Posted on 12/29/21 at 7:52 pm to ragincajun03
Posted on 12/29/21 at 7:52 pm to ragincajun03
quote:
Yep
Nope... russia and Saudi Arabia got into an oil war and flooded the world market prior to the lockdowns kicking in... oil prices went negative for a bit. Trump tried to buy up every bit of crude to stuff the strategic Petroleum reserve, but schumer wouldn't allow anything that would help oil companies. Trump made a deal with the oil companies to store oil in the spr in exchange for keeping a percentage. Dude was brilliant.
The lockdowns exacerbated the issue, but the genesis was Russia and Saudi Arabia flinging open the spigots
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