Some kind of causality is implied. There is no mutual causality among these quantities. The Saudi announcement of increasing production by 200,000 bpd was answered by an increase in NYMEX crude [West Texas] price. Getting close to expiration of the nearst fuures contract.
This is an absolute proof that the oil speculators must be punished via a set of new laws to prevent this irrational manipulation that has nothing to do with the supply and demand law. Oil production increased but oil speculators push the price up.
[There is no mutual causality among these quantities.]
In other news, OPEC oil minister farts, crude prices skyrocket...
That’s about as much causality as this market needs these days.