Thanks Pres. Trump~Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts - CorvetteForum - Chevrolet Corvette Forum Discussion


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Thanks Pres. Trump~Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts

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Old 03-20-2017, 07:38 PM   #1
vigalante
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Default Thanks Pres. Trump~Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts

Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market.

Futures dropped as much as 1.9 percent in New York. Saudi Arabian Energy Minister Khalid Al-Falih said on March 16 that the kingdom may extend its cuts if supplies stay above the five-year average. A day later, though, data showed the U.S. rig count growing for a ninth week, and a Libya official said Sunday that the Es Sider and Ras Lanuf ports are preparing to restart oil exports.


(Excerpt) Read more at gcaptain.com ...

Win win for the Trump Administration and the USA. Gutting the economic power of OPEC and also of Russia while fueling the American economy.
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