Why OPEC+ Cuts Don’t Necessarily Mean Higher Gas Prices
October 24, 2022
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1:21Now PlayingWhy OPEC+ Cuts Don’t Necessarily Mean Higher Gas Prices
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as posted by the channelThe OPEC+ production cut on Oct. 5 sent crude oil on a tear. Futures prices experienced their biggest weekly surge since the Russian invasion of Ukraine in February and yet the move almost entirely reversed itself over the ensuing two weeks, with gasoline prices left relatively unscathed. Here’s the story on how production cuts really work, and why cuts don’t necessarily mean higher prices at the pump. Presented by @cmegroup
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