OPEC to cut oil production, gas prices likely to increase
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Just when we thought we were getting some relief at the pump…
OPEC says it will slash oil production by 2 million barrels a day.
That’s the biggest cut since the start of the pandemic.
They say it is because of uncertainty surrounding the global economy, and the oil market. The production cuts will start next month.
The Biden Administration is criticizing the decision, calling it “shortsighted.”