Oil prices soar after OPEC+ announces
production cuts
Posted By: NorthernDog, 4/3/2023 9:23:00 AM
Oil prices soared nearly 6% on Monday after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year. The cuts in oil output by the so-called OPEC+ countries immediately pushed crude costs higher and were expected to boost gas prices in the U.S. and other countries. Higher oil prices also will complicate the efforts by central banks to rein in inflation. "This will create both political waves across Europe and even higher general inflation in the USA, leading to renewed pressure on the Federal
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to aim higher 35 replies
tell California reparations committee
to aim higher 35 replies
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Comments:
Here we go again. The Saudis and Russia will be big winners with higher gas prices. The US will be the loser - which is apparently Biden's plan all along.