Tom Kloza, OPIS global head of energy analysis, joins ‘Squawk Box’ to discuss what’s driving high gasoline prices, with the national average at $3.73 a gallon, the impact of Saudi cuts and Russian exports on the market, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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4 Comments
So when temps drop so will oil? Is that why they are shutting down rigs to drive up prices?
Only dumb Americans actually think more drilling and refining at home will drive prices down. As you can see, we’re exporting 1 million barrels of gasoline to Latin America even as our gas prices go up. Buy EVs and don’t support subsidies for multinationals. They don’t care about America.
Demand growth is centered in Asia.
Oil is about to rip up to $100 per barrel