Research on U.S. Crude Oil Market

After an attack on Saudi Arabia’s key production facilities, President Donald Trump has claimed to authorize the release of oil from the U.S. strategic petroleum reserve “to keep the markets well-supplied”. Under the situation when U.S. briefly became the world’s No.1 oil extractor and exporter after the shale oil revolution, there seems to be some irrationalities in America’s urgent response to this oil shortage crisis. In this report, I explored the reason why America still need oil imports from the Middle East area to support supplies market when they’ve already held a rich domestic production.

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