OPEC has agreed to hike oil output, but, why does the price per barrel of oil continue to rise?

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1902

Raghee Horner, futures and trading expert at Simpler Trading, discusses with Kurt Schemers on Traders Nation® how OPEC has agreed to hike oil output, but, the price per barrel of oil continues to rise. And, since the United States started producing greater numbers of output, will this help lessen mounting pressure of worldwide market demand?

Additionally, is getting oil from the ground-to-market more difficult? The process seems to be stretching the infrastructure, like trucking and railroads. However, as Raghee points out, these sectors should be looked at more closely by investors since they’re in the middle of strong demand and an economic windfall.