August 14, 2023 | Oil prices are surging and drillers are ramping up supply.

Why It Matters: The U.S. is refilling the Strategic Petroleum Reserve, the first in 12 months, and this could be boosting prices temporarily. If the U.S. shifts focus to cheaper oil, expect a change, especially with rising production.

Source: thedailyshot

April 10 2023 | Inflation in headlines again. Last week OPEC surprises investors with announcing a supply cut of about 1.2 million barrels of oil per day. Why it matters: Reduced oil supply will likely drive up gas prices again, further fueling inflation concerns. Source: thedailyshot