How Do Oil Prices Affect The USA Recession? #shorts #opec #oil

Saudi Arabia vs USA: How Do Oil Prices Affect The USA and UK Recession?

Members of the Organization of Petroleum Exporting Countries (OPEC) just ended a meeting and they have a message for the rest of the world. OPEC announced a reduction in oil production by two million barrels. This number accounts for more than 2% of the total production cap of the entire world.

With the decrease in oil production, there will be less supply of energy to major cities in Europe. Citizens in the US and the UK already experience the high cost of living. With the recession now at 8% and climbing in the US, major concerns are that increasing oil prices will lead to a greater recession for the economy. An increase in oil prices means that Russia stands to earn more money to finance its war against Ukraine. As such, the sanctions placed on Russia will have no long lasting effect.

———- Full video topics ———-
OPEC members explained
Russia-Ukraine War effect on oil price and OPEC decision
NOPEC bill explained & how Russia gain more profits during the war
The problems between the USA and Saudi Arabia
UK’s price cap strategy explained

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