Oil Price: Why Crude Futures Are Jumping After OPEC Increased Production - Barron's
1. Oil prices surged due to Russia-Ukraine tensions and OPEC+ production hikes. 2. Brent and WTI climbed 4% and 4.4% respectively, signaling rising crude costs. 3. Geopolitical shocks historically trigger short-term spikes, yet demand concerns persist. 4. OPEC+ raised output by 411,000 barrels per day, less than expected. 5. Chevron stock rose 1.3% amid the oil price increase on Monday.