The unsuccessful attempts by OPEC+ to reach a deal on output cuts increase the risk of creating a supply squeeze in an already tight market, which could potentially send oil prices sharply higher. Consumers are beginning to keenly feel the effects of higher oil prices, with 4th of July gasoline prices in the U.
S. set to be the highest for the holiday weekend in seven years while prices are forecast to rise even higher later in the summer. The latest OPEC+ spat has shifted focus from yet another oil price wildcard: Iran official return to the oil…Could Iran Raise Its Oil Production To 6 Million Bpd?
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