OPEC Tightens Supply; Biden Considering “Alternatives”

Objectivity 4.8 | Credibility 4.8 | Relevance 4.7

OPEC+ has announced that it will be reducing production by about 2 million barrels a day, likely causing a spike in U.S. gas prices.  Biden said the move was “disappointing” but said that his administration will be exploring “alternatives.” Biden hasn’t elaborated on what those alternatives might be, but some believe he is considering Venezuela, despite its authoritarian regime and current U.S. sanctions.  Meanwhile, a group of GOP senators are urging the Biden Administration to stop working against domestic oil and gas production and resume selling oil and gas leases on federal land and water.