Energy

How not to respond to OPEC’s oil production cuts

By Mark Whittington
Published October 12, 2022 4:44am ET
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How not to respond to OPEC’s oil production cuts
This doesn't portend any major changes in the kingdom's pro-U.S. sentiment. (AP Photo/Hassan Ammar, File) | Hassan Ammar

Demonstrating how unafraid OPEC is of President Joe Biden, the oil-producing cartel has announced a 2-million-barrel-a-day cut in production. The decision will likely cause a spike in energy prices, including gasoline, just in time for the 2022 midterm elections.

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Gas Oil OPEC