return2ozma@lemmy.world to World News@lemmy.worldEnglish · 6 days agoOil prices are high but could be much worse. Trump has China's Xi to thank for thatapnews.comexternal-linkmessage-square6fedilinkarrow-up175arrow-down14
arrow-up171arrow-down1external-linkOil prices are high but could be much worse. Trump has China's Xi to thank for thatapnews.comreturn2ozma@lemmy.world to World News@lemmy.worldEnglish · 6 days agomessage-square6fedilink
minus-squareboonhet@sopuli.xyzlinkfedilinkEnglisharrow-up3·6 days agoWriting style is off, but the message seems to be that it’s expected to lower, but fighting could cause expectations to jump back to the current actual price level I’m not sure who’s actually expecting it to go down to $83 though.
minus-squarechaogomu@lemmy.worldlinkfedilinkEnglisharrow-up3·6 days agoThe thing is, who exactly expects the price to come down? The only reason why prices are as “low” as they are now is that most countries are actively emptying their strategic reserves. Pipelines and refineries are being blown up, so the supply of new oil is way down and likely will not recover any time soon, if at all.
Writing style is off, but the message seems to be that it’s expected to lower, but fighting could cause expectations to jump back to the current actual price level
I’m not sure who’s actually expecting it to go down to $83 though.
The thing is, who exactly expects the price to come down?
The only reason why prices are as “low” as they are now is that most countries are actively emptying their strategic reserves.
Pipelines and refineries are being blown up, so the supply of new oil is way down and likely will not recover any time soon, if at all.