Saudi Arabia had significantly boosted oil production from about 2011 until the Wednesday after the election of Benedict Donald in 2015. Oil analysts the world over were trying to figure out why they were doing that and theories were to bankrupt the tar sands operations or to bankrupt Russia.
But when the Saudi's announced massive cutbacks in production just 2 days after the election of Trump, analysts concluded that Saudi Arabia simply had concluded that the planet was taking global warming seriously and they didn't want to be stuck with millions of barrels of oil in the ground. And they figured out that with the election of Benedict, it was happy days are here again for oil sales. So they cut production to get prices back up.
So now, with the glut from the pandemic, Saudi Arabia is in a bind. They want to increase production but can't due to the glut. And this current glut is mainly due to the pandemic but also due to their overproduction back in 2015. That glut only recently started to decline. But that pressure to get rid of their oil won't go away.
Meanwhile, gasoline prices, which are less a factor of oil production and more a factor of refinery processing, is still reeling from the massive lack of regulation in Texas that resulted in so many refineries not being able to stand up to cold weather. So less gas is being refined.
Plus, gas prices always go up this time of year.