Looks like Oil will stay low.....but the US will raise gas prices using the excuse of going to a summer blend. What say ye? A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia. But instead of a quick approval of a production freeze, the meeting of 18 oil-producing nations saw hours of debate and resembled the dysfunction of an unsuccessful meeting of the Organization of the Petroleum Exporting Countries in December that sent oil prices tumbling. The fact that producers couldn't agree to a freeze, let alone a production cut, likely means oil prices will drop again as markets open Monday. The dispute underscores the level of discord inside OPEC as it faces arguably its biggest challenge since the oil glut of the 1980s. Though more-costly U.S. shale oil production has dropped, it could re-enter the market if oil prices rise. And a large amount of crude already building up provides a major damper on prices, as does a generally weakened global economy, according to the U.S. Energy Information Administration.....snip~ https://www.yahoo.com/news/iran-says-not-attend-qatar-oil-production-meeting-052802004--finance.html
