The Saudi Oil Minister observed that when the 100,000 barrel production cut was announced that the price of Oil actually went DOWN. So there was no credibility to Joe Biden's criticism.
Unless someone knows something about impending consumption increase in the next 6 months. You know, like.... Winter?
Yes there is alot of volatility on daily price swings on large producers like Exxon, but it is clear that the profits and stock values will be going up in the next period of time.
Drewski
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