“OPEC+ bows to pressure and agrees to increase size of oil output hikes by 50%”
June 3, 2022
“OPEC+ will increase the size of its oil-supply hikes by about 50 per cent, bowing to months of pressure from major consumers including the U.S. to help ease the pain of high energy prices. Ministers agreed on Thursday that the group should add 648,000 barrels a day of oil to the market in July and August, up from 432,000 barrels a day in recent months, delegates said, asking not to be named because the discussions were private…”
To solve our energy problem we must become energy independent. We shouldn’t rely on outside forces. OPEC could cut production any time they get ready.