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Why oil prices are up and what it ~ means ~ for you

Posted on AllSides April 4th, 2023
From The Left
Energy, Oil Prices, OPEC
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Several of the world’s biggest oil producers say they are cutting production, and that means oil prices are higher. It’s probably not ideal for gas prices, inflation, and consumers, but it’s also not the worst. That is the TL;DR of what is happening on oil right now.

On Sunday, OPEC+, meaning the Organization of Petroleum Exporting Countries (OPEC), and its allies, the plus sign, announced it would cut production by over 1 million barrels of crude oil a day. For some context, there are about 100 million barrels of oil produced worldwide each day,...

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