MCL1! Question for anyone interest in brainstorming: Oil production will increase due to trumps policies are being share with other countries.
Theoretically, that would create more supply which would bring the prices of Oil down.
However, we're also seeing conflicts, military actions, tech development and other things happening simultaneously. These events could be the cause for an increase in demand that would bring the prices of oil up.
The new demand would bring enough money to offset the increase in price, keeping gas prices for consumers low while also benefiting countries and companies.
CRUDEOIL1! U.S. crude oil inventories increased by 1.59 million barrels, reaching a total of 2.415 million barrels. This rise contrasts sharply with the previous decrease of 838,000 barrels and surpasses analysts' expectations of a 1.9 million barrel drop. The unexpected increase could impact supply dynamics, oil prices, and market sentiment in the energy sector.