OPEC+ announces oil production cut, a move that could push US gas prices to rise

The OPEC+ alliance of oil-exporting countries on Wednesday will debate a potentially large cut in the amount of crude it ships to the global economy.The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

The impact of the production cut on oil prices -- and thus the price of gasoline made from crude -- will be limited somewhat because OPEC+ members already can't meet their quotas. "We are going through a period of diverse uncertainties, which could come our way, it's a brewing cloud," bin Salman said, adding that OPEC+ sought to remain "ahead of the curve."

The Biden administration will work with Congress on additional tools to reduce OPEC's control over energy prices, the statement said. Dwindling prospects for a diplomatic deal to limit Iran's nuclear program also have lowered prospects for a return of as much as 1.5 million barrels a day in Iranian oil to the market if sanctions are removed.

The current administration’s cutting of oil production is yet again coming back to bite us, OPEC knows they have US over a barrel, pun intended

'Could'?

Saving the earth from climate change 🤣🤣🤡🤡

Why

Gee, it would be nice if the US could become energy independent, wouldn't it? Wait, we WERE energy independent, weren't we? About 21 months ago before January 2021, when the current POTUS made us NOT energy independent, and made us dependent upon OPEC once again!

The Strategic Petroleum Reserve Is At Its Lowest Level Since 1984 Biden used about 30% of the SPR to cover up the devastating fallout of his disastrous energy policies. We haven’t been here since the Cold War. If you vote Democrat you hate America.

The OPEC oil production cut is not about economics at all. It’s about influencing the American Elections helping Russia with Ukrainian, pressuring Europe, all to destroy DEMOCRACY. This is an attack on the U.S.

Here we are gop s October surprise

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