High Gasoline Prices Are Starting To Hurt Demand

1. OPEC Exports Underwhelm Despite High Prices Source: Kpler. - The Russia-Ukraine war has taken OPEC heavyweights out of the public limelight, somewhat concealing the fact that the 400,000 b/d monthly increments of OPEC+ routinely end up underproduced. - Saudi Arabia is the only major OPEC producer to pull off a tangible export hike over the past months – in February outflows jumped to 7.15 million b/d – however with Iraq and Kuwait faltering, the net effect has been lower than assumed. - Hence, OPEC producers could enjoy high prices…