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President Donald Trump’s assertion that OPEC is propping up oil prices amid oversupply and an excess of floating storage has a problem: It’s only half true.

Crude rose to its highest level since 2014 in New York as the drop in U.S. inventories reported by an industry group helped to sustain a rally spurred by geopolitical risks.

Guadalupe Road in south Victoria County, Texas, was brand new in August 2016 after the county spent $200,000 to repave it for the first time in decades. But in the last few weeks, it began to crumble and crack, forcing county crews to patch up the deteriorating surface.

The strength of oil consumption took analysts by surprise last year, and played a big role in crude’s recovery to a three-year high in January.

Oil demand will remain strong through at least 2020, pushing spot costs for crude above futures pricing.

The U.S. government sees nationwide oil production jumping above 11 million barrels a day much quicker than anticipated.

Crude popped above $65 a barrel for the first time in more than three years after U.S. crude stockpiles fell for a 10th week in the longest stretch of declines on record.

U.S. crude production will soar to a record this year before rising even more in 2019, according to a government forecast published Jan. 9.

The Trump administration is proposing to open almost all U.S. coastal waters to oil drilling, including those off California and Florida where activists have fought for decades to spare delicate ecosystems from oil spills.

Oil climbed to the highest level in more than two years on estimates that U.S. crude stockpiles fell for a seventh week, while unrest continued in OPEC’s third-biggest producer.