Time for U.S. to reevaluate Saudi relationship, Sen. Chris Murphy says ahead of OPEC cut
. Increased production would flood the market with oil, helping to cool global gasoline prices which can hurt the U.S economy when they are sky-high.
"A regime [that] frankly, doesn't seem to be willing to stand with its allies in Europe, in the United States when we really need them to."
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OPEC production cut could halt the slide in gasoline prices | AutoblogPresident Joe Biden was quick to take credit over one of his most serious political foes: high gas prices. It was a victory lap that may prove premature.
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OPEC+ may take back control of the oil market with a major output cut | CNN BusinessA potential cut in production of 1 million bpd would send a global signal that OPEC+ wants to regain control of a market that it believes has deviated from the fundamentals of supply and demand, say analysts.
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Three things to watch for from the OPEC meeting, including a likely market-moving supply cutAt this point it is less a question of if, but rather how much OPEC and the OPEC+ coalition (Russia, Mexico and others) will remove from their monthly production quotas.
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OPEC+ output cut on tap, ADP report and more: Wednesday's 5 things to knowThe oil producer group OPEC+ meets today in Vienna and a large cut in output is expected in a move to support prices.
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U.S. pushing OPEC+ not to cut oil output -sourceThe United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent U.S. gasoline prices from rising.
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