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Falling oil prices and President Trump's emergence in the politial scence

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Falling oil prices in November

Crude oil prices are tumbling and the measures taken by the OPEC+ to stem the flow has not worked, apart from antagonizing the main Western ally of the de factor leader of the organization, while inadvertently making some form of contribution in making the Biden administration being bruised at the recently conducted midterm polls. 

The price of crude oil has been falling for weeks and got a short-lived boost last week, when the EIA announced a substantial crude draw. The gloomy, global outlook, however, eclipsed the misplaced optimism and the falling prices continued unabated, when the markets opened for business on Monday.

Since it goes without saying the impact of the rising energy costs on the recession, it is interesting to note what President Trump says about the steps that he will take in order to get the economy back on track; since he cannot be restrained by 'Green Commitments', the producers will be anxious to see what he spells out in the coming months, as he never shies away when it comes to taking the energy bull by the horns!

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