Saudis and the oil price increases - what is the real reason

With high gasoline prices and significant increases in oil over the last three months, there is a call for more supply. OPEC and the Saudis feel otherwise. Saudi production is still at all-time highs. Russia is producing at levels even higher. 

Inventories are attractive, so the market is going to have to look for other reasons. The geopolitical risk premium is again rising, but monetary policy is also the key blame. Gold and Oil are liquid stores of value in an environment of higher expected inflation. While growth is slowing, prices have continued to increase for oil. This is what happens when there is a financial and commodity asset bubble.