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U.S. Accelerates Three-Tier Plan To Reduce Oil Prices — Simon Watkins

Summary:
U.S. President Biden has three key strategies in place to lower oil prices.The first and foremost strategy is the implementation of the NOPEC bill.The second pillar of the plan is to release more crude from the U.S. SPR.The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.OilpriceU.S. Accelerates Three-Tier Plan To Reduce Oil PricesSimon Watkins

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U.S. President Biden has three key strategies in place to lower oil prices.
  • The first and foremost strategy is the implementation of the NOPEC bill.
  • The second pillar of the plan is to release more crude from the U.S. SPR.
  • The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
Oilprice
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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