Says here that OPEC has removed all of their covid production cuts for July and August, and only two or three OPEC members have any additional capacity at all, and Saudi Arabia the largest has at most 1 million barrels a day of extra capacity.
Oil producers in OPEC+ have not been able to meet their production targets and have limited spare capacity to increase output, analysts said.
www.cnbc.com
And I already told you that the US is dumping an extra 1 million barrels a day
right now from our emergency strategic reserves which should show you that (1) the 1 million barrels a day Saudi could produce makes almost no difference at all and (2) we shouldn't be releasing our emergency strategic reserve at all with war raging in Europe. If we stopped (like we should) and the Saudis went full force, we would be exactly where we are now. And then what??? The world buys more from Russia again?... ooops, that is what's funding the Russian war effort.
Nowhere do I hear anyone saying release the US oil/gas giants to go 100% on US production. Nope. The libs want green energy or nothing. And this winter the world will experience what 'nothing' feels like!!! Biden is clueless and Butigeg is pretending to ride a bicycle to work. Heck, the polar bears we are pretending to save are probably Russian. LOL
AND if the woke greenies get their way and we magically power the world with solar we will only be further under the thumb of China for its essential solar metals, the same way the world is currently reliant and desperate for Russian oil. Fools, the lot of 'em. Let it burn....