Despite the White House’s best attempts, oil prices are set to continue to climb this year. Many OPEC members are struggling with their higher production quotas because of technical issues. There is little left to do for the White House and other decision-makers than sit and wait to see how the oil price game will play out. When President Joe Biden announced plans to release up to 50 million barrels of oil from the strategic petroleum reserve to lower retail fuel prices, many analysts warned that any effect this move would have would be short-lived. Indeed, prices dropped for a very short while and are now on the climb again, with the number of three-digit price forecasts growing. The strategic reserve release was already a desperate attempt to put a lid on gasoline prices, pushed up by crude oil prices, themselves the result of a faster rebound in global […]