Loading ...Strange things going on in the ‘oil patch’. Was wondering why prices so quickly jumped to 140 bbl and how suddenly they have dropped to high 20’s ? Sure seems to me this has all been a smoke and mirrors trading game that made some folks very rich and now putting others in the poor house. Global production/use does not seem to justify such wild swings. The oil field may be the ‘Poster Child’ for manipulation (commodity prices ) on a grand scale. Trying to understand the pricing of crude certainly boggles the mind of this Farmboy.
Also found this interactive chart of global oil production/consumption from 1965 to 2012 of interest. As one scrolls through the years, ( slider upper left hand of chart) it is surprising to see the dynamics of ‘Who Is Who’ in the oil patch.
https://labs.timogrossenbacher.ch/worldoil/
Just some early morning thoughts, Farmboy