OPEC eyes cutting oil production despite global demand



Lipow Oil Associates President Andy Lipow discusses the global demand for oil and rising gas prices as OPEC is set to cut production.

Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness/

source

20 comments

  1. Biden doing everything to make price higher .

  2. Saudi Arabia should server ties with the degenerate regime of snakes that is washington D.C. for their own good. Everything they do should be counter to what the DC regime wants. Everything.

  3. Fuel and oil powered us thru 2. World Wars. With out them we would have been under the boot of our enemies
    The democrats have put us in that situation now.
    Biden has depleted our strategic ( 90 day) emergency oil supply
    Time to bring back a true ( America first President)
    President Trump

  4. OPEC+'s decision reflects that petrodollar has lost its most important pillar, and the petrodollar can be expected to collapse very soon

    recalling Bretton Woods system may be last resort for rescuing USD

  5. Trolls are in the comments

  6. OPEC and Saudi Arabia are not our friends… divest from them and Israel ASAP

  7. Shocker. The oil cartels are bullying the rest of us. Where have I seen this before?

  8. Right before the mid-terms makes you wonder about Kushner-Trump relationship with MBS another quid pro quo $$ Pink Floyd Song.

  9. We were energy independent under Obama and trump. The problem here is our Allies are not and we need to stick together as Russia wants to oust western democratic leaders and implant Russian style autocratic leaning leaders. So energy prices will go up for everyone.

    Let’s remember the enemy here was Russia and is now also Saudi Arabia. They’ve chosen sides and it’s not america. Now it’s up to us to elect leaders who won’t cower to saudis Arabia and Russia, in exchange for oil. Let’s drill more and also produce more solar. Let’s get energy production to a point where the world can choose to boycott Russian oil, and dare I say even boycott Saudi’s arabias oil. Fck those guys!

  10. We are doing what we are doing to maintain oil prices, which leads to the survival of supply. If prices collapse and production becomes higher than the price, the supply will stop from the whole world, and the interest of the OPEC peoples is related to that… So why should we present America's interests on our behalf?

  11. Time for the democrats and republicans to come together and drill baby, drill right here in the USA!! Drill now and turn a hard Green when we run out of oil here.
    President Biden needs to be giving oil permits to all our small to medium oil companies!
    F' the Commie Russian oil!!!! Drill right here President Biden!!!

  12. There is NO shortage of Oil in the World!

    This energy crisis is fake….

  13. The time will come where affordable alternative energy becomes a reality and these OPEC countries have to drink their oil for breakfast, lunch and dinner.

  14. The Saudi Prince is giving Andy Lipow the bird right about now,.

  15. Now Biden must 'kowtow' to the oil mongrels and oligarchies. This is something that he alone had brought upon himself, and America.

  16. At what point are people going to realise this is coordinated?

  17. The woman in green is so annoying with her voice

  18. Wherever one stands on climate change- believer, nonbeliever, unsure, doubter- I think a case could be made to unite us all in the pursuit and development of alternate and renewable sources of energy just to avoid having to deal with scum like Saudi Arabia.