Transcripts. Bannon’s War Room. Dave Walsh: OPEC's Gasoline Production Reduction Will Move the National Average To $4.40. October 5, 2022.
Transcripts. Bannon’s War Room. Dave Walsh: OPEC's Gasoline Production Reduction Will Move the National Average To $4.40. October 5, 2022.
Topic: OPEC Gasoline Production Reduction. Guest, Dave Walsh. October 5, 2022.
Transcripts from Bannon’s War Room on Rumble: Dave Walsh: OPEC's Gasoline Production Reduction Will Move the National Average To $4.40.
Published on October 5, 2022.
Steve Bannon:
Dave Walsh, we got a couple minutes. Dave how big a deal is this, our allies Saudi Arabia, UAE and others doing this massive cut 2 million barrels per day, sir. What kind of impact is it going to have?
Dave Walsh:
Well it was projected even about a week ago, Citibank, Bank of America, Morgan Stanley developed a consensus forecast of where we’re headed down to 105 to 110 bucks a barrel oil preceding being aware that this would generally be the result, 2 million barrel per day reduction in production by OPEC, which by the way about matches what's happened here under the administration since January of 2021 in US production versus where we were in 2019, about a 2 million barrel day slip that we have tried to offset.
We chose the utter futility of trying to offset this with SPR reserves issues that now end this month. This SPR program ends this month, a million barrels a day we've released, 330 million barrels down in the strategic petroleum reserve, 52% down, has accomplished nothing as these guys, OPEC plus have waited for the moment in time when that's over to have any impact to announce this exactly intentional why they've done it at this time. So, we'll see gas back to 4.20, 4.40 a gallon nationally within a couple months of this without question.
Steve Bannon:
Dave you're down today at Brat’s (Dave Brat). How do people follow you on GETTR, sir.
Dave Walsh:
Appreciate the time, Steve. Its @Dave Walsh Energy on GETTR, thank you.
END
(Note to readers: I am not affiliated with Bannon’s War Room. I am merely transcribing so that people could copy and share. Please feel free to use this as you see fit. Also, it is sometimes hard to decipher the actual words due to poor audio. Thank you for reading this and sharing.)