Drivers should plan to pay even more at the pump after the world's major oil producers announced surprise cuts totaling roughly 1 million barrels per day – and leading energy experts argue that the Biden administration's policies are to blame for the looming price hikes.
The decision by the Saudi-led Organization of the Petroleum Exporting Countries comes on the heels of a 2 million barrel-per-day reduction that was agreed upon in October. The new cuts, which will take effect in May, are expected to drive up the cost of gas domestically and further damage U.S.-Riyadh relations.
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Marisa Herman ✉
Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.