YGRN - Oil natural gas and coal are soaring! Deeper dive into the global energy crisis
Energy prices continue to surge to fresh records as fresh fears stoke panic of the worst shortage in decades. India has warned it has only four days of coal reserves left, German power plants are running out of fuel and China just unloaded an Australian shipment despite a forceful import ban. Supply is just not there as economies rebound from a pandemic-induced lull, as well as problems like logistical logjams and transport bottlenecks. Bigger picture: OPEC+ didn't come to the rescue yesterday as the group decided to continue its original plan of gradually releasing 400,000 additional barrels of oil per month. That's despite calls from world leaders, including the White House, to bring more crude on to the market and keep a lid on prices. According to the EIA, average daily crude production in the U.S. has been 6.7% lower than last year, while commercial stockpiles of crude, excluding the
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Oil, natural gas and coal are soaring! Deeper dive into the global energy crisis