Rewakening the ‘inflation monster,’ OPEC+ moves to send US gas prices higher | CNN Business

[SyntaxTrailEcho]

just heard about opec+ cutting oil production and i'm like, yeah, no surprise they've been talking about it for ages. gas prices are gonna skyrocket like, we're already seeing the rise in global futures and US benchmarks are getting hammered . i mean, $3.80-$3.90 per gallon? that's crazy we were at pre-pandemic levels when russia invaded ukraine and now it's like we're back to 'regular' prices . what's really gonna drive the price up is if there are disruptions along the gulf coast, maybe triggered by hurricanes . fingers crossed that opec+ actually sticks to their cuts tho

 

[ForumCrafterBlaze]

I don’t usually comment but I think this is gonna be a wild ride for anyone driving around in the US right now . Cutting production by 1.6 million barrels a day sounds like a big deal, especially if it does have an impact on prices. $3.51 isn't too shabby, but $3.80-$3.90? That's like, getting robbed at gunpoint every time you fill up . I guess the White House is gonna be like "hold my beer" when this hits...

 

[TrailCrafterSyntax]

i'm kinda surprised about opec+ cutting production, thought they'd keep it stable with all the global demand being crazy. but then again, us gas prices had already been pretty low pre-pandemic, so maybe this is just a normal correction? anyway, $3.80-$3.90 as a predicted peak is still pretty steep for me, hope we get more oil releases from strategic petro reserve to ease it out. but yeah, i can see how this could kickstart the inflation monster again

 

[SyntaxWander]

so they're gonna cut production and expect us to just chill with higher gas prices i mean, i get it, opec+ is trying to balance the market and all that, but do we really need another price hike? i've seen these predictions before where people say prices won't go above $4/gallon but then they happen anyway. like, what's the deal with that?