Oil reserves dip to lowest level in modern era. With BOBO forcing crude to be trucked instead of flowing down a pipe, crude and limited trucks ,supply is falling. Hello 5 bucks a gal. See you around Thanks giving

It was a nice reprieve we had while the gallon counter racked up faster than the dollar register at the pump. Getting close to $4.00 a gallon here.

thats exactly what bill clinton said. go figure

I predict a very hard winter for all of us in many ways...

Brought to you by the biggest vote getter in history.

Yep

Is anyone able to explain why supply is getting so low in Cushing?

Kansas CAt?

This is good news!
Maybe these Democrat voters will now see the errors of their ways. Not holding my breath though.

Just a guess. I am sure it's a complex answer with lots of moving parts but........I suspect domestic producers are not willing to increase capital expenditures even at these higher prices because of the hostile stance towards all fossil fuels from the Biden administration. Why invest in production when the government is dedicated to your destruction ?

Imports last week were up slightly but domestic refiners don't want to pay OPEC prices for crude and OPEC is committed to keeping prices at current levels or higher.

There could also be labor shortages in the oil patch just like all other sectors of the economy. Some producers may also be waiting to see what tax changes come out of this budget nightmare.

Yea right.... they'll just blame Trump and call it good.

the last time we ran out of oil the oil companies made money

From what Im hearing is its a stand off lets not drill and produce or keep it at a minimum and lets see what happens with green energy. They will put it out when they get the price they want.

They are to brainwashed to get it.

Beyond hopeless, a lost cause.

Lots of oil sitting in ANWAR just waiting for you guys to fill the pipeline. ANWAR will boost Yukon and NWT oil. Win-Win just got to figure out how to keep the caribou happy. I think it can be done! OPINIONS???

The answer is simple, more oil is flowing out of Cushing than into Cushing. LOL. Why this is happening is a little more nuanced. The price increase is fairly recent. No one knows how durable it will prove to be. I think some companies are waiting to see if it is sustainable for any meaningful length of time. A lot of political pressure is being exerted on the companies that can meaningfully add to US production. For the first time this pressure is coming from inside the companies. Engine 1 has captured the board of Exxon and I think other companies as well. This is fairly recent and the effect so far has been for these companies to focus on share repurchases and dividends instead of new drilling. This, of course, has had a predictable effect on production. I think the US produces somewhere around 11 million barrels per day, down from 13 million barrels per day just two years ago.

This has to be a record of some kind.
9 months from independent and having surplus to running out and begging OPEC.

I would like to see a price at the pump for the republicans and then another for the ones backing the new green deal.

White13 is correct. Domestic oil companies are not willing to spend any money on new wells period. Not with this administration. Let it go up. The only way to learn is to pay. Gas effects everything. It does not discriminate. Effects Republican Democrat and Liberals. Be prepared to pay dearly. And remember Let’s go Brandon!!!!

T hat would be something