Saudi Arabia's Oil Production Cuts Could Cause U.S. Inflation

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In this clip from The Bald Brad Show, in a move that could cause higher U.S. inflation, Saudi Arabia, whose relationship with the United States has taken a nosedive during President Joe Biden's tenure, has announced it will lead the members of the Organization of the Petroleum Exporting Countries (OPEC), including Russia, to cut over one million barrels of output a day starting next month. The kingdom also stated it would cut production by another 500,000 barrels a day starting in May. This comes after OPEC's decision last October to reduce production by two million barrels a day. Oil prices soared 7.5% at the week's open after the Saudi announcement. The cuts could cause U.S. gasoline prices to rise roughly 26 cents per gallon, according to Kevin Book, managing director of Clearview Energy Partners. Watch this video to learn more about the implications of Saudi Arabia's decision and the strained relationship between the U.S. and Saudi Arabia during Biden's presidency.

Watch the full episode here: https://www.youtube.com/watch?v=iJpEWt5u-gM

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