Potential output cuts from OPEC and its allies, known as OPEC+, may not be imminent and are likely to coincide with the return of Iran to oil markets should that country clinch a nuclear deal with the West, , oil prices, OPEC+ producers, oil output
light on references to oil, how important is it that the administration downplay that piece of this as the president heads to the middle east? well, i don t think we should dump it. we should talk about this. there s no question that we need to increase oil production at the global level. we have to recognize that gas prices are not dictated by the united states alone. they are dictated by the world, by opec. so he s doing the right thing talking to the saudis, talking to venezuela, producing more oil here at home than donald trump do in his first year in office, so we are doing the job, we are getting things done. you know, you look at that, you look at inflation, most economists say that inflation i m hoping that inflation will start to come down. gas prices are starting to come down and the economy continues to go up. we saw last month. over 372,000 jobs were created alone, over 8 million jobs created in this administration altogether. so that is what leadership looks like. i un
internationally understand this abroad he will do what he can to smooth over hard feeling withs the saudis and encourage them to loosen the spigot when it comes to oil production at the same time. domestically, though, there s a heavy price to be paid. the price of criticism from both the political left and the right that what he s doing is essentially shuffling over to the saudis hat in hand while tamping down domestic oil production here at home. not exactly a real picnic when you consider he s been critical as rich pointed out as saudis human rights records. quote from the start my aim was to reorient but not rupture relations with a country that s been strategic partner for 80 years. today saudi arabia has help today restore unity among the six counties of the gulf cooperation council. has fully supported the truce in yemen and now working with my experts to help stabilize oil markets with other opec producers, end quote.
The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, collectively known as OPEC+, have been unwinding record output cuts in place since the COVID-19 pandemic took hold in 2020, , OPEC+ producers, oil output
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