Supply Chain Optimization

Oil $60!!!!!

by Tom Moore on Feb 16, 2021 7:00:00 PM

 Here is why oil prices have increased and will continue increasing (if OPEC and Russia keep a steady hand): 
  • Shell said that in the next decade, it would cut production of traditional fuels such as diesel and gasoline by 55%. Its oil output has already peaked
  • OPEC and the International Energy Agency said second-half oil demand would outstrip production – quickly drawing down the former glut of crude
  • New Government orders banning fracking and killing pipelines
The US has again shifted to be a net importer of oil (it had been a net exporter).
 
This all leads to oil being $60.15 per barrel on Tuesday and Diesel is $2.88 – unless you live in California, and then it is $3.63!
 
 
For a wealth of additional resources and insights, explore our website at https://provisionai.com/ and connect with us on our social media channels for the latest updates and information!
 
 
Topics: Supply Chain Load Building Optimization SaaS

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