Producer Group Led News Today : Breaking News, Live Updates & Top Stories | Vimarsana

$3.28 and came right back up. the spr was never really going to be a game changer. it was always more of a band-aid. they announced 50 million barrels that would be released but that s just 12 hours of world demand, 12 hours. we got more bad news on the supply front just yesterday. opec plus, the producer group led by saudi arabia and russia, they pretty much telegraphed they re not coming to the rescue. they re going to stick to their plan to increase production just modestly, not doing something more aggressive that would have cooled off prices. u.s. oil companies have been reluctant to ramp up production, too. you put it together and you have prices going up. oil today, u.s. oil prices closing above $90 a barrel for the first time since october 2014. they have completely recovered from that from the spring of 2020 and because gas prices move with a lag to oil, that suggests that prices at the pump will keep going higher from here. ....

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