Oil Market Adjustments: Unilateral Cuts in Production Spur Crude Oil Prices

Crude oil and gasoline prices experienced a rallying surge on Wednesday, achieving 1-week highs and closing notably higher. This boost was fueled by a growing expectation for tightened global crude supplies, a direct result of Saudi Arabia and Russia’s recently announced reductions in crude production. Consequently, the WTI crude oil for August (CLQ23) closed up […]

Read More