It imports 7mbpd of oil and only exports 4mbpd. Many US refineries only run because of imports.
RBOB/HO futures are dependent on Brent and not WTI. So US dependent on international markets
It imports 7mbpd of oil and only exports 4mbpd. Many US refineries only run because of imports.
RBOB/HO futures are dependent on Brent and not WTI. So US dependent on international markets
Producers trying to capture that with more production could see price fall more than that
Producers trying to capture that with more production could see price fall more than that