As a result, experts said the amount of oil on the market might not keep up with demand, so high oil prices may persist for some time.
The logo of the Organization of the Petroleoum Exporting Countries is seen on Nov. 3, 2020, in Vienna, Austria.
As a result, "the U.S. may go looking for other sources of oil, whether it’s Venezuela or Iran," said Jacques Rousseau, managing director at Clearview Energy Partners.There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation."You’ve just seen the second-quarter results from some of these companies.
FILE - Processing facilities at the Khurais Processing Department in the Khurais oil field in Khurais, Saudi Arabia, on Monday, June 28, 2021. Photographer: Maya Siddiqui/Bloomberg via Getty Images As a result, the amount of oil on the market might not keep up with demand, so high oil prices may persist for some time.Politicians often take the heat for high gas prices, but they have little to do with what you pay at the pump.
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