U.S. Consumers Will Pay The Bill For Higher Crude Prices ...Middle East

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U.S. Consumers Will Pay The Bill For Higher Crude Prices
source : OILPRICE ( Middle East ) () 25
Oil producers around the world are sticking to their guns and keeping oil production capped even as oil prices continue to rise. Historically, the highly cyclical and predictable pattern of oil production would mean that oil producers would all be rushing to the pumps right now in order to capitalize on high oil prices before flooding the market with oil, depressing prices, instating caps, and starting the pattern all over again. Wash, rinse, repeat. But this time, the United States, OPEC, and even OPEC+ ally Russia are staying strong and resisting…

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