'With just weeks to go until the November midterms, four letters are haunting President Joe Biden and the Democrats: OPEC,' writes Paul LeBlanc | Analysis
A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. Last week, the Organization of Petroleum Exporting Countries and its allies, led by Saudi Arabia and Russia, said that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections.
So when the war in Ukraine started, sorry to tell your audience, but the United States was not very well prepared in what it was going to do. It sanctioned Russia for this and for that. And so the price of oil started going up. And at the same time, the United States actually put sanctions on Russian oil, not on gas, on oil. And so there was less Russian oil in the Western markets.
What should the US do now?
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