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Oil prices soar after OPEC+ announces
production cuts

Original Article

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

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.

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Reply 1 - Posted by: marbles 4/3/2023 9:30:48 AM (No. 1439868)
And in turn,...............everything that's trucked in will go up. All the food, what you wear, your shampoo , aspirin, etc.
7 people like this.

Reply 2 - Posted by: marbles 4/3/2023 9:35:35 AM (No. 1439873)
BY the way, this doesn't need to be, under Trump we were energy independent. The dems/left wants us on our knees. To break our spirit, to break us financially.
12 people like this.

Reply 3 - Posted by: Pearson365 4/3/2023 9:41:41 AM (No. 1439876)
So nice to see Saudi Arabia agreeing with Biden that fossil fuel production must be curtailed and then ended. Mad Joe is waging a war on fossil fuels in order to save the world or something, and these oil producing countries have joined his delusional and cruel crusade.
3 people like this.

Reply 4 - Posted by: LC Chihuahua 4/3/2023 9:46:20 AM (No. 1439882)
Does the 'plus' in OPEC+ stand for Russia? Does that 'plus' include any other countries?
0 people like this.

Reply 5 - Posted by: seamusm 4/3/2023 9:56:21 AM (No. 1439890)
The Sauds were only able to do this because the US oil production has been deliberately suppressed by Biden.
11 people like this.

Reply 6 - Posted by: enemyofthestate 4/3/2023 11:03:15 AM (No. 1439961)
Open the Keystone pipeline. Simple..... open the Keystone pipeline.
7 people like this.

Reply 7 - Posted by: Boliver 4/3/2023 11:07:58 AM (No. 1439967)
29 countries have now left the US petro dollar and joined China, Saudi Arabia and Russia's BRICS oil /gas alliance. These countries (Bazil, India, Mexico and South Africa are just some) are sick of the control and abuse the US has been using with the power of the petro dollar. FJB has royally screwed us now as nations are joining together AGAINST the US. We have lost the petro dollar and are quickly on the road to becoming Venezuela. Again, this is all intentional! Time to plant your victory garden, folks.
6 people like this.

Reply 8 - Posted by: DVC 4/3/2023 11:12:53 AM (No. 1439975)
Helping out the Russian economy, which is pretty much entirely dependent on selling oil and gas.
3 people like this.

Reply 9 - Posted by: Subsuburban 4/3/2023 11:35:02 AM (No. 1439999)
I tend to think that the House of Saud will never forget that Joe Biden publicly demanded that they be deemed a "pariah," and called for their removal after the death of Khashoggi. So all of you Biden voters and democrats in general, I hope you enjoy your $7.00/gallon gasoline.
4 people like this.

Reply 10 - Posted by: stablemoney 4/3/2023 11:37:50 AM (No. 1440001)
The muslims send all their rejects to the EU and America, then give them the schiff in oil pricing.
1 person likes this.

Reply 11 - Posted by: jeffkinnh 4/3/2023 12:25:46 PM (No. 1440032)
We are subject to this BLACKMAIL because of Biden DESTROYING our energy system. Experts predict another recession soon. This just greased the skids. Over the cliff we go. 2 recessions in less than 4 years and all completely unnecessary.
1 person likes this.

Reply 12 - Posted by: rytwng 4/3/2023 1:55:08 PM (No. 1440102)
This is all because of the idiot Fake president. The pervert is to busy molesting little girls.
1 person likes this.

Reply 13 - Posted by: downnout 4/3/2023 3:15:28 PM (No. 1440154)
And biteme failed to refill the Strategic Petroleum Reserve because the U.S. didn’t have the money to do so. But he can find billions for Ukraine!
3 people like this.

Reply 14 - Posted by: mifla 4/4/2023 6:37:32 AM (No. 1440540)
I remember when we were energy independent.
0 people like this.

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