Oil prices now have decreased by over 20 per cent from recent increases, and President Trump knows exactly where the credit is for that. "If you look at oil prices, they have declined significantly over the past few months," said President Trump in the last week's news conference. "That's because of me."
The President is right about that, but not for the reasons he thinks. He is grateful to his hard line on OPEC. But what's happened is that raw oil records in the US have risen for just seven weeks.
As noted in the preceding article, one reason for this is that China, in response to the ongoing trading spat, has stopped stopping US oil. Earlier this year China which contains more than half a million barrels of the day of raw oil from US Losses; This export market has contributed to the growth of the list in the US – and therefore due to raw oil prices. (Apparently, crude oil lists are falling elsewhere, but probably in countries that are not so obvious about their numbers).
Some feel that there is also an element of fear that a global application could be a haul. But this week, Reuters said that China's high-quality oil oil was installed in October. So, despite the war of trade, China's demand does not appear to be; haul. But China does not get oil from the US. now.
Where does China get its oil? Iran, for one. There is another way in which President Trump has helped to reduce oil prices that he is cleansed as the date for the sanctions on the oil export that came near hand. Oil prices rose by around 50 per cent over the last year due to the sanctions that were in place; going to & # 39; bringing Iran's oil out of its market. (I do not remember taking credit for rising oil prices in response to sanctions).
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But just ahead of the date of November 5, the Trump Administration said it would deliver investments to eight countries – and including China – to allow them to include Iranian raw oil now. The campaigns allow these countries 180 days to buy them out of raw oil purchases.
Due to the prevalence of the prevalence of the sanctions, it is not surprising that oil prices will be astonished; withdrawn in response to temporary belief.
So, it is certain that President Trump is largely dependent on the price of oil prices. This cost is due to a growing market for US oil producers, and weakening the barriers against Iran.
By Robert Rapier
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