OPEC+ production cuts and Middle Eastern tensions are pushing crude oil prices (CL=F, BZ=F) higher. KPMG Global Head of Clients & Markets Regina Mayor joins Yahoo Finance to discuss the geopolitical pressures putting a squeeze on energy markets, especially ahead of the summer driving season and what oil prices could in turn mean for gas prices.
"If the geopolitical tensions do not scale back somewhat, especially in the Middle East, then you could potentially see a driver that increases prices, but frankly, I’m more on the bearish side and I’m not going to predict a three-digit oil price any time soon," Mayor explains.
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