Drilling and Reserves Are Down Equals Prices up? - Mineral Royalties #oilprices #oilandgas #oil

1 year ago
37

There has been a lot of news recently, in the world of oil. The following headlines are linked below…

Oil, Gas Drilling Dips To February 2022 Low As Oil Prices Hover Near 2023 Highs
https://oilprice.com/Energy/Energy-General/Oil-Gas-Drilling-Dips-To-February-2022-Low-As-Oil-Prices-Hover-Near-2023-Highs.html

Oil prices are surging again, but this time Biden has way less ammunition to bring them down
https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?op=1

https://www.eia.gov/petroleum/supply/weekly/

Opec chief warns on 'dangerous' lack of oil investment
This could lift prices above $100 before year-end. That could make for a nice Christmas bonus, don’t you think?
http://www.tradearabia.com/news/OGN_414096.html

Today we read that OPEC+ Leaves Oil Production Levels Unchanged.
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Leaves-Oil-Production-Levels-Unchanged.html

Oil: 'Demand destruction has begun', say JPMorgan analysts
https://www.msn.com/en-us/money/markets/oil-demand-destruction-has-begun-say-jpmorgan-analysts/ar-AA1hGZCB

What does all this mean?
Well, if you have a crystal ball and can see into the future, let me know.

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