Less than two years ago, the United States was the world’s largest producer of crude oil. It was the new major swing producer that moved prices up or down with a shrug of the shoulder, challenging OPEC’s long-standing role as price-setter. And then it all changed as the pandemic struck. The second pandemic year is drawing to a close, and oil is rising fast thanks to tight supply combined with stronger than expected demand resulting from a set of favorable circumstances that have pushed West Texas Intermediate to the highest in eight…
Is The U.S. Still A Swing Producer Of Oil?
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