Daniel Baldwin
Saudi oil production cuts could spike gas prices
Oil cuts announced by Saudi Arabia have prompted fears that gas prices may be on the rise.
Oil cuts announced by Saudi Arabia have prompted fears that gas prices may be on the rise.
Saudi Arabia will reportedly be cutting back on the amount of oil it exports to the world economy in an effort to support the sagging price of crude after two earlier supply cuts by major oil-producing nations in the OPEC+ alliance failed to do so.
After years of hostilities, which has fueled multiple conflicts and threatened the overall security and stability in the Gulf, Iran and Saudi Arabia have agreed to re-establish relations.