Know The Difference Minute

With OPEC reducing its output by over 1.1 million barrels a day, there might be a double whammy at the pump.

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The OPEC impact.
Welcome to the Know the Difference Minute for Wednesday, April 5th.
OPEC isn’t what it used to be, but that doesn’t mean it can’t stir things up. The annual switch to summer blends usually tacks on another 10 to 15 cents a gallon. With OPEC reducing its output by over 1.1 million barrels a day, there might be a double whammy at the pump.
Prices are already up. One analyst told Fox News that $4 a gallon is probably a given.
The EV market would love that. Tesla is still #1, but according to new Q1 sales figures released yesterday, GM is now #2 for EVs. It jumped ahead of Ford due to production issues for the F150 Lightning. GM sold 20,000 EVs for the first time and is on track to build a total of 100,000 this year.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.