OPEC decision condemned by White House

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Written By Jennifer Joslyn

🛢 Things are a little oily up in here.

The Saudi Arabia and Russia-led Organization of Petroleum Exporting Countries (OPEC) made a decision last week that has been condemned by The White House and President Biden directly. The decision of slashing oil production by two million barrels per day will have consequences and will lead gas prices to hike further as the U.S. midterm election season approaches quickly. This cut of oil production came Ono the heels of the group’s first in-person meeting since March 2020. About 2% of the global oil demand would be eliminated with this cut.

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Jennifer Joslyn
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