MN Prager Discussion Group

 OCTOBER 5, 2022 BY STEVEN HAYWARD at Power Line:


The speculation earlier this week was that OPEC+ was going to cut oil output by 1 million barrels a day, and the Biden White House was described as being in “a panic” about this prospective move, because gasoline prices are starting to soar again just in time to help tip the midterm election further in favor of Republicans.* CNN reported:

The Biden administration launched a full-scale pressure campaign in a last-ditch effort to dissuade Middle Eastern allies fromdramatically cutting oil production, according to multiple sources familiar with the matter. . .

On Wednesday morning, OPEC+oil ministers meeting in Vienna agreed to an even larger production cut than the White House had feared— 2 million barrels per day, beginning in November, according to a readout of the meeting released on Wednesday. The…

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