“The repercussions will be felt in
RELATED: Saudi minister says premature to say if OPEC+ to cut output
“Practically everyone is pumping as much as they can right now,” Reed added. “The
But surging worldwide oil production has contributed to the recent plunge in
Oil prices also received an extra boost this week from news that
What needs to happen?
Energy analysts believe
From HoustonChronicle.com: Trump’s lobbying against output cuts could hurt energy sector
At the same time time, the lower oil price has caused
There’s the possibility that
Nervousness over an ambiguous deal, however, could cause oil prices to further crater in the short term.
Saudi Energy Minister
How did we get here?
The last time a global glut pushed oil prices down — in part because of the
Later that year, the world’s two biggest producers other than the
With the market balanced, they again increased production this summer, in part to help offset falling production from struggling
At this weekend’s Group of 20 meeting in
And who will join the Saudis and
In fact, the Saudi-Russian alliance has begun to overwhelm
What about the
AT THE PUMP: Gasoline prices plunge to lowest level of the year
Much to the chagrin of the
Some analysts ventured that Trump might stop harping on oil prices after the midterm elections, but he was still bringing it up on
“Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy!” Trump tweeted. “Thank you to
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