Oil Declines on Fear of Weakening Global Energy Demand

[bjl584]

Oil Declines on Fear Trade War Will Weaken Global Energy Demand

[ua_guy]

The last line of the article touched on this, but this is happening at a time when OPEC has committed to increasing supply, and American producers are under extreme political pressure to drill/expand and increase supply. Oil companies were content with their former levels of production based on their forecasting, as well as their former level of profitability. The free market can't take direction to increase supply when demand is shrinking.

[myrdale]

Sounds like gasoline is getting cheaper!

It appears the tariffs are starting to bear fruit!

[LivingAlmostLarge]

Sounds like gasoline is getting cheaper!

It appears the tariffs are starting to bear fruit!

Maybe but also maybe people are buying more electric or hybrid vehicles? And gas is expensive depending on where you live based on state taxes on gas. I'm still paying $4.50/gallon.

[ua_guy]

Maybe but also maybe people are buying more electric or hybrid vehicles? And gas is expensive depending on where you live based on state taxes on gas. I'm still paying $4.50/gallon.

For example, WA state tax is 55.4 cents per gallon. What is the rest of the price per gallon going to? It's not taxes, so, what is it?