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https://x.com/misterresiste12/status/1818706438664888346?s=46OPEC Announces Oil Production Increases Amid Record U.S. Output
Source: medianews.com
The Organization of Petroleum Exporting Countries plus Russia (OPEC+) announced Monday after a meeting in Saudi Arabia that crude oil production cuts, which have been a strategic staple for the alliance of small oil-rich nations for the past several years, would be phased out starting in September of this year, resulting in increased oil supply and likely lower gas prices.
OPEC+ released a statement following the meeting announcing that, nominally, production cuts would continue into 2025, but several nations in the alliance, most notably the United Arab Emirates, would be permitted to increase their output of crude oil starting after September.
"These countries will extend their voluntary cuts for 2.2 million barrels a day...until the end of September 2024, and then the 2.2 million barrels a day will be gradually phased out on a monthly basis until the end of September 2025 to support market stability," the OPEC+ statement read following the meeting in Riyadh.
The decision to increase production comes after years of voluntary cuts by OPEC+ to drive up the price of oil, largely contributing to increased gas prices in the United States since the Covid-19 pandemic. During the height of the pandemic, then-President Donald Trump asked OPEC to decrease production after oil prices had cratered, in order to increase prices to benefit U.S. oil companies.
Read more: https://meidasnews.com/news/opec-announces-oil-production-increases-gas-prices-likely-to-fall
After the announcement, crude oil futures dropped dramatically at the opening of markets Monday, from $77 a barrel to $74, a 3% drop, the steepest one-day decline in nearly five months.
Question for anyone and everyone
Instead of packaging many things in the “Inflation Reduction Act”, why not break each item into separate bills?
First of all, the republican legislators will make up some reason to somehow demonize the bill to their moron followers - knowing they won’t do the diligence to find out was in in the bill.
Secondly, for example, one bill could be called the “Let Medicare Lower Your Drug Costs”, which should be understandable, even to Trump acolytes - and let the Republicans vote against it. Let their constituents see who they really are!
The Kansas abortion referendum shows that when people understand an issue that makes their life better, they wake up!
When all is said and done, leftists will out number fascists in America
But only if we all vote!
Wisconsin bans square bales of hay.
The Wisconsin Department of Agriculture today is banning all square bales of hay, forcing farmers to only use the newer round bales.
Farmers were quick to complain that their cows would no longer have their 3 square meals a day, where as the WDOA insisted that from this day forward all cows deserved a well-rounded diet.
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Name: GregoryGender: Male
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