Home heating could cost more this season

Daniel Singer, CEO of Robison Oil, says OPEC's decision to cut production exacerbates an already volatile market.

News 12 Staff

Oct 7, 2022, 1:54 AM

Updated 596 days ago

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With colder temperatures on the horizon, heating your home could cost you more this season.
Daniel Singer, CEO of Robison Oil, says OPEC's decision to cut production exacerbates an already volatile market.
He says not only could this potentially cause a supply issue, but it also leaves a perception in oil markets of possible supply interruptions.
This uncertainty causes far more than higher prices at the pump and your home because, he says, inventory levels are at historic lows.
"The fear is, if in fact we get a cold fall, cold beginning of the heating season, there could actually be a product shortage going on at NY harbor -- that could be a doomsday scenario, high prices are a problem -- low inventories could be a crisis," says Singer.
To conserve oil in your home, he suggests speaking to your oil provider to get a capped price.
He also says to keep some humidity in your home to hold the heat more efficiently.  


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