Saudi Arabia’s oil cuts may not mean higher gas prices

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 5 June 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Saudi Arabia is cutting oil production by nearly a million barrels a day in hopes of boosting prices. Thing is, plenty of supply and weaker global demand could derail its effort. Plus, construction spending is a bright spot in U.S. manufacturing, office space owners reel from remote work, and Make-A-Wish plays catch-up on a backlog of Disney wishes.

Transcript

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0:19.2	at Marketplace.org slash donate
0:21.2	or just click the link in our show notes.
0:25.3	Today on the program,
0:27.1	oil prices, farm auctions, and living life fruveling.
0:32.5	From American public media, this is Marketplace.
0:36.2	In Portland, Oregon, I'm Marie Mechreis, and for Kyra's doll,
0:48.6	it is Monday, June 5th.
0:50.7	Good to have you with us.
0:52.4	After all, the domestic economic drama
0:54.8	at the end of last week, an 11th hour debt ceiling deal,
0:58.0	a blockbuster jobs report, there is now
1:01.0	global economic drama over oil prices.
1:04.9	OPEC Plus, the 23 country oil producing alliance,
1:08.5	had a pretty contentious meeting over the weekend.
	...

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