Will gas prices go up because of OPEC's oil cut?
So OPEC just surprised everyone by cutting oil production. Does this mean we're gonna pay more at the pump? Anyone know how long it usually takes for this stuff to actually affect what we pay?
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Production cuts typically push prices up since theres less supply competing in the market, though the effect usually takes a few weeks to a couple months to fully show at the pump because theres existing inventory in the system. the actual impact depends on demand levels and what other producers do too.
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