In recent days, Oil has been flaring up markets with OPEC+ meetings being on and off. And despite uncertainty with supply curb decisions, oil prices continue to spike.

The OPEC+ meeting was expected to add 2 million barrels per day (BPD) between August and December, with a monthly installment of 400,000 BPD production increase but not all allies agreed upon the deal.

The dispute meant that the decision to boost production is still in progress till OPEC+ and allies find a resolution.

Weekly crude inventory draws, fuel demand recovery, and OPEC+ failing to reach a deal yet helped oil prices stay persistent on gains as shown in the futures chart below.

Brent crude futures were able to surpass the $77 mark today, for the first time since 2018. And markets are pretty buzzed with commodities right now.

With all that’s going on, one thing is for certain, Oil bulls are definitely enjoying riding the wave.