Taps Coogan – February 12th, 2024
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The more time goes by, the more clear it becomes that the US has been the winner of the various oil price wars since 2014: Via Michael A. Arouet:
And the Winner is… pic.twitter.com/d6iLej66JX
— Michael A. Arouet (@MichaelAArouet) February 11, 2024
The decrease in Russian production since 2021 may be overstated due to sanctions evasion, though some decline has likely occurred. The big loser has, of course, been Saudi Arabia which has assumed the lion’s share of the productions cuts needed to balance oil markets and, in doing so, ceded significant market share to the US.
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