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To: Merrick

“oil prices are back to pre-war levels”

Incorrect.
“OPEC’s oil production rebounded sharply in June as Gulf producers finally began bringing shut-in barrels back online after months of war-induced disruptions. But despite the impressive headline number, the cartel is still pumping nowhere near where it was before the Strait of Hormuz crisis turned Middle East oil flows upside down.”
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Oil-Production-Jumps-But-Gulf-Supply-Is-Still-Far-From-Normal.html


39 posted on 07/05/2026 9:14:49 AM PDT by jimwatx
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To: jimwatx
“OPEC’s oil production rebounded sharply in June as Gulf producers finally began bringing shut-in barrels back online after months of war-induced disruptions. But despite the impressive headline number, the cartel is still pumping nowhere near where it was before the Strait of Hormuz crisis turned Middle East oil flows upside down.”

US oil exports are up 50% since March.

Somebody do the math.

41 posted on 07/05/2026 10:11:46 AM PDT by FreeReign
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