Comments by "HKim0072" (@HKim0072) on "Gas prices are down as U.S. oil production is back up to record levels" video.

Many refiners went bankrupt in 2020. Oil hit -$37 at one point. Drillers were paying people to take oil away. Yes, they had to pay someone to take their oil. There were massive tankers just floating off the coast...yup, stocked with oil. Just waiting. Demand picked up and...guess what? The system was broken. Then, you have the additional shock of the Russian invasion. Crack spreads were 3x normal. Oil is always based off current supply / demand, traders being di*** and trying to manipulate the market and a tinge of what the future will be.
1