#oil-supply

#oil-supply

OPEC's increase in oil supply may not lead to lower gas prices due to various external factors.

Geopolitical tensions and tariffs significantly influence oil prices beyond supply changes.

California gas prices are nearing $5/gallon, largely due to state taxes and supply issues.

High gas prices in California significantly impact economic factors for residents.

Geopolitical tensions in Eastern Europe are influencing crude oil prices.

The IEA forecasts a surplus in 2025, indicating rising supply with declining demand.

Global crude oil futures face bearish pressure primarily due to weakening demand, especially in China, overshadowing geopolitical tensions.