Just before Holidays OPEC begins to restrict production of Oil

David Paul Morris/Bloomberg via Getty Images

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • L.A. Gas Prices Hit Record High $6.494; OPEC Move Suggests Worse Ahead
  • The announcement Wednesday that the OPEC+ nations intended to restrict production by two million barrels per day has prompted fears of more price hikes to come, though some of the refinery issues that have caused prices to spike recently are being resolved.
  • Other Western states, such as Oregon and Washington, have also seen increases.
  • President Joe Biden visited Saudi Arabia earlier this year to ask the kingdom to increase oil production, but seems to have failed.

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