Tuesday, May 31, 2022

US Oil Production - Demand -- May 31, 2022

Demand, link here.

Production, link here.

Commentary:

No one will believe that this is a non-political comment, but trust me, it is. Everything, absolutely everything points to higher oil prices and higher gasoline prices for the foreseeable future unless there are major changes in production, refining, and/or demand. And I don't see that happening.

A "keystone" policy is only going to make things worse, and unfortunately for consumers, even if we had a president in the White House who ... fill in the blank ... I don't think much would change. 

In other words, this is well beyond what the White House can effect.