President Donald Trump reshared a White House post on Sunday about restarting California’s Sable Pipeline. The same day, OPEC+ agreed to pump more oil from September.

Both moves add oil to the market. Neither has helped drivers yet. Californians paid $5.49 a gallon in late July, the highest price in the country.

Why Trump Revived a March Order Now

Gas is expensive, and Trump knows it.

US drivers paid about $4.10 a gallon in the week to July 27, federal data shows. That is 97 cents more than a year ago.

In June, Trump told fuel retailers to cut prices to $2.50. They have not.

California hurts most at $5.49 a gallon. That is roughly $1.39 above the national average, which makes the state an obvious target.

On March 13, Trump signed an order giving Energy Secretary Chris Wright emergency powers. The law behind it, the Defense Production Act, lets Washington direct private companies during a crisis.

Wright told Sable Offshore Corp. to reopen the Santa Ynez Pipeline. It had sat unused since a 2015 oil spill.

Oil flowed the next day. Sable aimed to sell about 50,000 barrels daily from April 1, a company filing shows. The line can carry 200,000.

Courts keep pushing back. On June 17, a California appeals court blocked Sable’s coastal work, backing state regulators in a published opinion.

OPEC+ Supply Hike Opens One Tap, Not All

Seven countries agreed to pump 188,000 more barrels a day from September. Saudi Arabia and Russia account for most of that, at about 62,000 barrels each.

The move finishes one round of cuts. The group had held back 1.65 million barrels a day since April 2023. That batch is now fully back.

A second cut from November 2023 stays in place. So the taps are not fully open.

OPEC says it can still speed up, pause, or reverse, according to its July statement.

Harder talks come in 2027, when the group sets new limits for each member. Iraq already wants a bigger share.

What This Means for Crypto

More oil has not made oil cheaper.

Brent crude sat near $87 on July 20. US crude was close to $84. Those are the latest daily figures from the Energy Information Administration.

Wars in Iran and Ukraine explain the gap. They block exports, so the extra barrels stay stuck on paper.

That matters for Bitcoin. Costlier fuel pushes inflation higher, and energy costs pressure Bitcoin by making rate cuts less likely.

Cheaper fuel does the opposite. It gives the Federal Reserve room to cut, which has lifted risk assets before, such as after the Fed held rates steady.

The question now is simple. Will September’s barrels reach buyers, or stay stuck?

Source: BeInCrypto