Despite ongoing sanctions and conflict among some OPEC+ members, oil prices started 2024 relatively low as the US continues to produce at record levels (PBS, NASDAQ, Oil Price, EIA - Short-Term Energy Outlook). The outcome will be determined using the "4-Week Avg U.S. Field Production of Crude Oil" data (which is displayed in thousands of barrels per day by week "End Date") as reported by the Energy Information Administration (EIA) (EIA).

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