The price of Brent crude oil has fallen from $70 per barrel to $63 per barrel in early March as it’s dropping in exigency due to new travel restrictions to combat a revival in Covid-19 .
OPEC+ decided to increase crude oil production which offered a fall in crude oil prices.
And also announced total crude oil production by the group of countries is yet to rise by 1.1 million barrels per day by July.
US crude oil production capacity has recovered from 9.7 million to 11 million barrels per day after abnormally cold weather in February.
So it yet to see it’s impact on fuel prices.