Gas prices are lower, & will likely stay lower. Pres Biden perfectly timed the refilling of the Strategic Petroleum Res. Oil prices hit their lowest levels in months -boon to American markets & slowed US inflation even more.
In a surprise move, 8 producers led by KSA & RU laid out a detailed plan to gradually phase out 2.2M bpd of prod. cuts from Oct 2024 thru Sept 2025, meaning oil supply will start increasing in the fourth quarter of this year.
#Shell has lost a legal appeal in a South African🇿🇦 court that sought to overturn a judgment blocking an offshore #oil search opposed by environmental groups https://buff.ly/3V2Zwe2