Once again, the price of West Texas Intermediate (WTI) crude oil has surpassed the $80 per barrel threshold and is likely to remain robust this year. According to projections by the U.S. Energy Information Administration (“EIA”), WTI oil is expected to average $83.05 per barrel in 2024, a notable increase from last year's $77.58. Contributing to the strength of commodity prices are voluntary production cuts from the OPEC+ group and ongoing geopolitical tensions.  While crude prices remain favorable, the lik ...