Oil Price Follow-Ups

Questions from the mailbag on the oil market

I was happy to see that the response to yesterday’s primer on oil prices was positive.  I have had requests to do additional primers in the future, and I am happy to do those. 

I also received several follow-up questions from readers about the oil price, which I will address over the next couple of days:

1. Why has the price of oil risen faster than inflation has in recent months?

2. Is oil supply decreasing and is that driving up oil prices?

3. What impact did the cancellation of the Keystone XL pipeline have on the price of oil?

4. How does the war in Ukraine impact oil prices?