Article

2021-12-31 Economy

Oil heads for biggest annual gain since at least 2016

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Posted by Besoeker 2021-12-31 09:20|| || Front Page|| [4 views ] Top

#1 Market prices often reflect product availability. 'Supply and Demand' (and all that other icky stuff requiring logic and math).

When a product becomes less available due to 'producer restraint' brought on by government restrictions, the product price goes up.

Posted by Mullah Richard 2021-12-31 09:50|| 2021-12-31 09:50|| Front Page Top

#2 one of the problems this year was Hurricane Ida which forced much of the Gulf oil production to shut down at the end of August; this depressed supply until about October - since October there has been a significant recovery in production

unfortunately however, the hostile US political regime has led to a big decline in exploration in 2021 which fell by over 60% from 2020

this creates a problem going forward

Posted by Lord Garth 2021-12-31 11:34|| 2021-12-31 11:34|| Front Page Top

#3 What Mullah Richard said. What every Econ 101 student knows after the second week of the course at the latest.

Posted by Tom 2021-12-31 13:54|| 2021-12-31 13:54|| Front Page Top

#4 No doubt AOC, who has a degree in economics, would disagree....

Posted by CrazyFool 2021-12-31 14:05|| 2021-12-31 14:05|| Front Page Top

#5 Shutting down Keystone also had a cascading effect on reducing supply

Posted by Merrick Ferret 2021-12-31 16:11|| 2021-12-31 16:11|| Front Page Top

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