Friday, January 14, 2022

Lame..

 


China will release crude oil from its national strategic stockpiles around the Lunar New Year holidays that start on Feb. 1, as part of a plan coordinated by the United States with other major consumers to reduce global prices, sources told Reuters. 

The sources, who have knowledge of talks between the world's top two crude consumers, said China agreed in late 2021 to release an unspecified amount of oil depending on price levels.

The release of crude stocks by China will occur around the Lunar New Year, the sources said. China will be closed for the biggest annual holiday from Jan. 31 to Feb. 6.

So stop producing oil in USA but ask everyone else to produce more, with high cost on the USA and Europe. Just a thought.

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