Debunking The Key Misconceptions About Oil And Gas Prices

I don’t know who needs to hear this, but it seems like the vast majority of the country — including many politicians — still suffer from some major misconceptions when it comes to oil and gas prices.   Let’s first talk about things that are true. It is true that oil companies benefit from actions that increase the price of oil.

Over the past couple of years, OPEC has taken actions that have increased the price of oil. In April 2020, OPEC+, a group of 23 oil-producing countries, enacted a huge supply cut because of the…