Looks like gas prices will be going up. I've enjoyed the < $3.10 prices.
For the sake of their citizens, I hope they invest their increased profits wisely for the day when US & Europe won't need their heavy crude anymore. I look forward to that day.
https://www.cnbc.com/2023/04/02/saud...tput-cuts.html
Quote:
Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable.
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Oil prices last month fell towards $70 a barrel, the lowest in 15 months, on concern that a global banking crisis would hit demand. Still, further action by OPEC+ to support the market was not expected after sources downplayed this prospect and crude recovered towards $80.
The latest reductions could lift oil prices by $10 per barrel, the head of investment firm Pickering Energy Partners said on Sunday, while oil broker PVM said it expected an immediate jump once trading starts after the weekend.
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