Is The U.S. Preparing To Punish OPEC?

June 10, 2023/in /by Rudolf Huber

If the US would be a consumer only and had no other way to retaliate I would have mild sympathy for such legislation. But considering that the US has the master key through more shale development in hand and does everything to hamper it while at the same time blaming OPEC for high prices is stupid, arrogant, and extremely disconnected from reality. OPEC starts to understand that the North American market will become ever less important for them. Once that has sunk in, they will care much less about what Uncle Sam thinks. Kick shale into high gear or you have no one else to blame.

Is The U.S. Preparing To Punish OPEC? | OilPrice.com

The U.S. House of Representatives may once again consider a piece of legislation to pressure the OPEC oil producers’ group to stop making output cuts

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