Reuters citing an OPEC statement they have seen:
- OPEC told the International Monetary Fund's steering committee on Thursday that the surge in oil prices was largely due to the Ukraine crisis
The Reuters report adds the key implication:
- in the latest signal that the producer group would not take further action to add supply
The Saudis are in bed with Russia, both are ecstatic with surging oil prices.
This chart is from our charting app, which is free and can be found at this link