OPEC Production Cuts
OPEC announced vuluntary cuts of 1 million barrels a few days ago. That is what they say, however, the reality is OPEC has been unable to meet quotas especially the African producers.
Regardless, of how the cuts come about they are offsetting the US Administration draining the strategic petroleum reserve to dump oil on the market.
In short, OPEC cuts are helping the US drain its reserve.
The blow back to that is prices will spike over $100 when the US attempts to buy the oil back if it ever will be able to.