Post
Topic
Board Economics
Re: Long term OIL
by
tyz
on 09/02/2017, 18:40:58 UTC
The oil imports of the USA have declined strongly over the last past years because the domestic oil productions increased massively due to fracking. Therefore the States are not longer dependent from oil imports than it was before fracking starts. You can also see this in official figures published on https://www.eia.gov/energyexplained/index.cfm?page=oil_imports

The ballistic missile test by Iran is again resulting in uncertainty in oil prices. The Trump administration has imposed some sanctions on Iranian entities. Expect crude prices to go further north.

http://www.cnbc.com/2017/02/02/oil-edges-up-as-us-could-be-set-to-issue-new-iran-sanctions.html

Trump should make sure that the sanctions does not result in a decline in the Iranian crude production. Else it will affect the Americans more than anyone, since they are among the top importers of crude oil.