Crude oil (CL=F, BZ=F) prices are on the trajectory to move higher — after two straight months of gains — as OPEC+ decided to extend its production cuts to mid-year 2024. Truist Securities Managing Director Neal Dingmann joins Yahoo Finance to talk about what these cuts and the United States' own domestic supply mean for oil prices going forward. "It does create a floor. I think [that] you take this, couple this with very, very limited domestic supply. I think that's what surprised folks last year when the US supply grew over a million barrels," Dingmann says. "This year I would be surprised if it grows over 300,000 to 400,000 barrels. So, I think when you couple those two with rising demand, which appears we're likely going to have, I would be surprised if we end the year anything less than $90s." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.

Read more --->