OPEC, gas prices to increase

Gas Prices To Increase Under Biden’s Influence; Saudi Arabia To Reduce Oil Production

April 4, 2023 DT 0

Under the presidency of Joe Biden, the relationship with Saudi Arabia has deteriorated. On Sunday, Saudi Arabia announced that it would lead OPEC, the Organization of the Petroleum Exporting Countries, including Russia, to reduce production by over one million barrels per day beginning next month. The result would be higher gas prices in the U.S. will most likely lead to higher inflation.