According to AAA, drivers are currently paying an average of $3.55 for a gallon of regular gasoline. That is more than $1 lower than a year ago.
Patrick De Haan, GasBuddy's head of petroleum analysis, said oil prices could rally due to production cuts and push gasoline prices higher as early as mid-week. "How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried," he said. "Any rise in average prices should be fairly small, and we’re still extremely unlikely to make a run at record prices anytime soon.
The voluntary cut is on top of a broader deal by the Organization of the Petroleum Exporting Countries and allies including Russia to limit supply into 2024 as the OPEC+ producer group seeks to boost flagging oil prices. "This is a Saudi lollipop," Saudi Energy Minister Prince Abdulaziz told a news conference. "We wanted to ice the cake. We always want to add suspense. We don't want people to try to predict what we do... This market needs stabilization."OPEC+ pumps about 40% of the world's crude and has cut its output target by a total of 3.66 million bpd, amounting to 3.6% of global demand, including 2 million bpd agreed last year and voluntary cuts of 1.
Meanwhile, OPEC, including Russia, agreed over the weekend to slash its overall production goals by 1.4 million barrels per day.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
AAA issues warning for teen drivers as 2023′s ‘100 Deadliest Days’ beginNationwide, more than 30% of deaths involving teen drivers occur during what’s called the “100 Deadliest Days,” a period that runs from Memorial Day to Labor Day.
Weiterlesen »
Bicyclist killed in hit-and-run in Highland Park, according to mayorA bicyclist was killed in an apparent hit-and-run Friday afternoon in north suburban Highland Park, according to the city’s mayor.
Weiterlesen »
9 Best Trader Joe’s Appetizers, According to Our EditorsYou can find all kinds of finger foods and other enticing small bites to whet the appetite at the popular specialty grocer.
Weiterlesen »
Father’s Day gift guide according to budgetOur favourite gifts under $20, $50, $100 and $200
Weiterlesen »
These Are The Worst Driving Habits According To You | CarscoopsFailing to signal, tailgating, and more complaints made it to your top five worst driving habits car auto cars
Weiterlesen »
What Would Cause a Civil War Today, According to a HistorianAmerican Revolution expert and author Eli Merritt shares what could legitimately spark a civil war today, if history repeats itself, and why the Founding Fathers supported slavery.
Weiterlesen »