Quote:
Originally Posted by tuccillo
Not exactly. Saudi and the other major oil producers are cutting production by 1.15 million barrels per day through the end of 2023. To say that all of the production cut is targeted at the US is not correct. Oil is a global commodity. To put this in perspective and provide some context, the world uses about 100 million barrels of oil per day and the US uses about 20 million barrels of oil per day. The announced cut by Saudi is about 5% of their current production. I believe the US is still the world's largest producer of oil at about 12 million barrels per day.
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Thanks for your response but you must of heard something a little different than what I
did. If we were producing oil we wouldn’t have gotten our gas prices raised by $0.20 just this week. My information came from BBC, you can’t believe anything that our news says here in the U.S. If you want hear what’s going on here in the U.S. don’t listen to our fake news media here, listen to a neutral countries news. I hope your right!