Comments by "craxd1" (@craxd1) on "The USA Now an Oil Exporter (Ironically Partly Due to Obama)" video.

  1. "As OPEC members grew weary of a multi-year supply contest with diminishing returns and shrinking financial reserves, the organization finally attempted its first production cut since 2008. Despite many political obstacles, a September 2016 decision to trim approximately 1 million barrels per day was codified by a new quota agreement at the November 2016 OPEC conference. The agreement (which exempted disruption-ridden members Libya and Nigeria) covered the first half of 2017 – alongside promised reductions from Russia and ten other non-members, offset by expected increases in the US shale sector, Libya, Nigeria, spare capacity, and surging late-2016 OPEC production before the cuts took effect. Indonesia announced another "temporary suspension" of its OPEC membership, rather than accepting the organization's requested 5 percent production cut."__Wikipedia on OPEC, citing Bloomberg. Why did OPEC, and a handful of other nations, decide on a production cut in September 2016, just before the US election? What does a cut gain them, and who does it hurt? Their supposed reason was "diminishing returns and shrinking financial reserves," which means that they wanted the price of crude to go up. However, what about an incoming US President that was intending on investigating things that occurred within these very nations? By the way, the meeting where OPEC made the decision was in Houston. Are any of the old Yukos Oil executives still in Houston or London? There is a reason for Trump announcing that the US would become an exporter not long after the election. Did you know that Russia has controlled the MB since at least 1945?
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