All tagged US oil industry
What has caused this stunning dive in oil prices? Too much production, to be sure, but a the US-China trade spat with no end in sight, and slowing economic activity—and maybe even early signs of a recession—in China.
President Trump wants lower pump prices—and he’s looking to OPEC, the club of oil producers, to make it happen. Not only is it rare for a US president to do this openly, but it’s misguided: OPEC members are deeply divided on the production-price question, and OPEC’s share of global production—even if their members did agree—would have only a marginal effect on prices anyway.
