Fun little tidbit…
Saudi Arabia and Russia keep cutting production of oil, trying to get the price over $100 per barrel.
https://www.reuters.com/business/energy/russia-cut-oil-output-by-500000-bpd-march-2023-02-10/
Yet, the price is still dropping…perks a little, then continues to drop, right now hovering around $73 per barrel.
Why?
The United States is now producing more oil per day than anyone in the history of the world, with Saudi hitting around 12 million per day and Russia at 11.
