Oil Prices Are In Turmoil Right Now. Here Are 5 Things You Need To Know
Oil prices were surging, but a dramatic meeting of many of the world's crude producers has thrown things into a bit of turmoil.
Oil prices have been rising steadily for months. You've probably noticed one big consequence — average gasoline prices have climbed to seven-year highs.
As early as last week, the expectations were that oil prices would either stabilize or rise gradually — until an OPEC+ meeting that was supposed to be routine ended in an unexpected impasse, with no agreement on what to do about oil production.
Now analysts are bracing for everything from a price spike to a price plunge. As millions of Americans hit the road again, there's just no certainty around where crude is headed.
