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The Fed and Russia’s war in Ukraine, according to energy expert Dan Yergin, are responsible for the decline in oil prices during the past month, despite the market’s tightness. According to Yergin, the demand prognosis for China, the largest oil consumer in the world, is also questionable. Edward Gardner, commodities economist at Capital Economics, stated, “We believe OPEC+ would then adopt a more permissive stance, allowing the few members with excess capacity to produce more.”