CRUDE OIL (B -Trams): US crude prices hit $92 per barrel for the first time since 2014, after a massive winter storm swept across the US and disrupted some oil production in the Permian Basin region.
Meanwhile, OPEC and its allies stuck with their plan to release more barrels into a strengthening market gradually. In March, the oil cartel agreed to increase oil output by 400,000 barrels per day, even as data showed that some members struggled to keep up with the production quotas.
As We Say On JAN 21,2022 Crude May Touch Its Peak Level To 100 $ As per the GeoPolitical Tensions Between Ukraine And USA . While Now the US benchmark is now on track for its seventh straight weekly gain, as demand recovery combined with falling stockpiles and supply disruptions have been pushing prices higher.
