LONDON — When major oil producers last met in Vienna, they said they would curb rising prices by ramping up production. Why, then, are oil prices still going up?
Officials from the Organization of the Petroleum Exporting Countries, and other major oil producers like Russia pledged last month to increase total output by around 1 percent of the global oil supply. President Trump has pressed the issue further, repeatedly calling for lower oil prices.
Yet prices have remained stubbornly high. The price of Brent crude, the international benchmark, has risen more than 20 percent so far this year, to around $78 a barrel.
Here are some of the factors pushing prices higher.
