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The Fox News Rundown

Evening Edition: Oil Prices Rise After Saudi Arabia Announces Production Cut

The Fox News Rundown

FOX News Podcasts

Politics, Daily News, News

3.41.7K Ratings

🗓️ 5 June 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

Saudi Arabia announced over the weekend they will be voluntarily cutting oil output by a million barrels a day. Other OPEC nations also agreed to production cuts causing oil prices to rise immediately. FOX's John Saucier speaks with Jeff Flock, FOX Business Network Correspondent, about the impact of the Saudis decision and reaction from the White House. Click Here To Follow 'The FOX News Rundown: Evening Edition' Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I'm Dana Perino.

0:01.0

I'm Jason Chafetz.

0:02.0

I'm Rachel Campo-Stuffy, and this is the Fox News rundown.

0:09.0

Monday, June 5, 2023, I'm John Sasiag.

0:13.0

Saudi Arabia has made a decision that is likely to affect how much you pay for gasoline.

0:18.0

The kingdom is cutting their own oil production, is doing so for longer than originally anticipated.

0:23.0

But the less oil that flows from foreign sources and putting pressure on the White House

0:27.0

to produce more at home.

0:28.0

We're going to cut production and we're going to raise our prices and you're going to have to live with it.

0:32.0

That's kind of what they're trying to do.

0:34.0

They're playing a hardball here.

0:35.0

And of course, some here in the U.S. suggest we can play hardball too by increasing our production and making it up.

0:41.0

This is the Fox News rundown, evening edition.

0:49.0

From the Fox News Podcasts Network.

0:51.0

I'm Ben Dominic, Fox News contributor and editor of the transom.com daily newsletter.

0:56.0

And I'm inviting you to join a conversation every week.

0:59.0

It's the Ben Dominic podcast.

1:01.0

Subscribe and listen now by going to FoxNewsPodcasts.com.

1:04.0

Supply demands still the name of the game when it comes to how much we're paying at the gas pumps these days.

1:08.0

Saudi Arabia is fully aware of that.

1:11.0

We're also aware of the war in Ukraine, the presidential election coming up here in the United States.

1:15.0

So what can we do about the kingdom cutting their production?

...

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