Posted on 12/14/2023 7:16:28 PM PST by Round Earther
Huge volumes of US oil production, as well as output from Brazil and Guyana, have eaten away at the Organization for Petroleum Exporting Countries and its allies' command of global crude flows, with the energy cartel's market share dropping to its lowest mark in nearly a decade, according to the International Energy Agency.
In its oil report covering data up to December 2023, the IEA said OPEC+'s market share had fallen to 51% in 2023.
It hasn't been that low since the group expanded to include additional allies in 2016, the Paris-based firm said.
"Record-breaking supply from the United States, Brazil and Guyana, and sharply higher Iranian oil production, along with easing demand, prompted some OPEC+ members to announce more extensive 100 2 1Q24 cuts to fend off a potential inventory build," the IEA said.
(Excerpt) Read more at markets.businessinsider.com ...
I saw the link here but l cannot find it either. Probably scrubbed. Tough to find a story about removing food and energy from the inflation figures too but we know they got away with it.
Thanks! Lame. Even when things could be good in the USA, Dims make it bad.
“ How is it that the Bidenites and Obamaians have allowed this domestic oil production to take place?”
10% for the big guy can get anything done. That’s the system.
The point really is that political elite lies to everyone…even their own supporters (they may lie to them MORE than they lie to us). Biden, the poster boy for the political class - the guy they all aspire to be, is an equal opportunity liar. The greenie money is just too stupid to realize it’s being played too. Hey let’s send ol’ cadaver Kerry over to Europe to make deals that some other slob 10 years from now will have to figure out how to get out of.
Ok now l see, you are going to reference the rat controlled BLS. This tells me a lot
The commissioner is the same as under Trump. Cmon.
So is the FIB c’mon
So career republican economists are falsifying date to boost Biden’s? Why? How?
It makes no sense.
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