Oil demand by the barrel itself is pretty high due to China and India econ rising-just % it lower due to other sources like Nat gas- and oil production is at a most similar level like many years than most times(not highest but not lowest).
Demand/Prices for oil ironically is increasing due to more than just one factor that hitting us all. Lack of truck drivers affect oil prices, lack of wind power inc demand for oil/nat gas(see England), with ports are clogged ship delivery is also lower. Also doesn't hurt that workers need to process the crude oil is also in the lower numbers. Some can argue that oil has been artificial lower due to the stock market for the U.S(better than oil wars though) and due to lack of wanting to invest in more oil money has run little dry. Even more factors but it hitting us all at once thus we are reaching higher prices.
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