In the USA we are down 13% on year over year use of oil or over 2 million barrels a day less
http://www.guardian.co.uk/business/feedarticle/8091373
http://www.guardian.co.uk/business/feedarticle/8091373
Article Opec may cut production again to shore up oil prices
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people might think that they will shore up prices, but the fact is there is slowing demand for oil.
For the week ended Nov. 21, crude stocks jumped by 7.3 million barrels, the U.S. Energy Department said Wednesday. Analysts had expected a boost of only 400,000 barrels. Gasoline inventories rose by 1.9 million barrels, against estimates of a rise of 300,000 barrels
For the week ended Nov. 21, crude stocks jumped by 7.3 million barrels, the U.S. Energy Department said Wednesday. Analysts had expected a boost of only 400,000 barrels. Gasoline inventories rose by 1.9 million barrels, against estimates of a rise of 300,000 barrels
I think that $4 a gallon created total demand destruction and helped putting the US in a recession. After we saw $4.50 a gallon heating oil nobody in their right mind would install an oil burner in their homes.Who ever is to blame for the big run up in prices they have ruined the home heating oil business and everyone wants rid of their oil burners.
maybe it was, is the former oil man from texas who also happens to be the most powerful man on the planet. :ahhh:yardleypa said:
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