Oil Price Plunging. Thanks Biden!

[bripat9643]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

So low oil prices are bad now?

You whine when they go up, and then you while when they go down.

 

[bripat9643]

US oil production doubles during the Obama years because the ppb was high. I know you don't get it.. I have explained it to you a dozen times.

It doubled because of fracking on private land.

 

[g5000]

So low oil prices are bad now?

You whine when they go up, and then you while when they go down.

I have never complained about low oil prices. In fact, this topic was to thank Biden for getting them lower.

Comprehension fail, bigly.

 

[surada]

It doubled because of fracking on private land.

So?

 

[Phillip]

It's all pretty much the same to me.

Yeah me too..

 

[LeftofLeft]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

Does that mean we are less dependent on non-US Oil or does that mean Biden’s Masters threw him a bone so we can all eat cake for a few days?

 

[surada]

Does that mean we are less dependent on non-US Oil or does that mean Biden’s Masters threw him a bone so we can all eat cake for a few days?

We still import 8 million barrels per day.

 

[JusticeHammer]

No he didn't.. We started buying oil from Russia after Trump put sanctions on Venezuela.

Meanwhile , the Saudis announced they were increasing production by 3 million bpd between now and 2023.

Which makes us more dependent on foreign oil. Sorry dumbass, I'll take Trump's plan. Xiden sucks.

 

[bripat9643]

So?

Obama doesn't get the credit.

 

[surada]

Obama doesn't get the credit.

Of course not.. The thing that drives oil production is the high price per barrel. Do you understand that yet?

 

[surada]

Which makes us more dependent on foreign oil. Sorry dumbass, I'll take Trump's plan. Xiden sucks.

Trump lied to you.. but he is very stupid about the oil business. We have never been energy inependent. We have imported 7-8 million bpd for years..During 2020 covid lock down we imported 5 million barrels a day.

 

[Weatherman2020]

WTI crude futures erased early gains to fall towards $66 a barrel on Friday, after rising as much as 2% to above $68 tracking a sentiment of risk-off that took hold in markets. Early, a more bullish oil market was sustained by OPEC+ remarks, saying that are ready to quickly adjust output plans if demand suffered from measures to contain the Omicron variant. In the previous session, OPEC+ surprised markets when it stuck to plans to add 400,000 bpd supply in January, seen by analysts as a move meant to appease Washington. US deputy energy secretary David Turk previously said President Biden’s administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially. Meanwhile, the producers have since calmed markets, saying they would meet again before their next scheduled meeting on Jan. 4, if needed, to review supply additions in light of virus-related developments. WTI crude is on track for its sixth weekly decline.​

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 15.13 USD/BBL or 21.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on April of 2024.

tradingeconomics.com

Oil settles down $10/bbl in largest daily drop since April 2020


Go Joe Brandon!

For 10 months you claimed Brandon had no control over prices.

 

[surada]

For 10 months you claimed Brandon had no control over prices.
View attachment 571483

Hahahaha.. You clowns claimed the ppb going up was Biden's fault.

 

[Harpy Eagle]

We still import 8 million barrels per day.

We have never not imported oil

 

[Weatherman2020]

Hahahaha.. You clowns claimed the ppb going up was Biden's fault.

It is. And Brandon is to blame.
Now why did you LIE?

 

[Weatherman2020]

We have never not imported oil

Ya, those tankers are just filled with Gatorade!

 

[Fort Fun Indiana]

It doubled because of fracking on private land

Oil production doubled because of fracking, eh?

For 10 months you claimed Brandon had no control over prices.
View attachment 571483

And for months you claimed he did. Dang you are dumb.

 

[surada]

We have never not imported oil

I know.. These idiots have no interest in the facts or the oil business.. They listen to Trump.. Its absolutely amazing how they can be so lazy.

 

[surada]

Ya, those tankers are just filled with Gatorade!

What does that stupid remark mean?

 

[Harpy Eagle]

Ya, those tankers are just filled with Gatorade!

Nope they are full of oil being shipped TO the US just like they always have been. There is not one period in the last 50 plus years where the US did not import oil