Gas prices nearing $4 a gallon rekindle fears of inflation rebound

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Gas pump
US gas prices surged to $3.96 a gallon earlier on Monday.

(Photo by FREDERIC J. BROWN/AFP via Getty Images)

Brace for oil prices to spike toward $100 a barrel with OPEC's cuts set to squeeze supply in time for driving season, energy analyst says

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Saudi Arabia's energy minister Prince Abdulaziz bin Salman says OPEC+ could slash output further.

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Brace for a 'bump at the pump' as OPEC's surprise output cut could send gas prices above $4 a gallon, say analysts

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Gas pump
US gas prices could hit $4 a gallon thanks to OPEC+'s surprise crude cuts.

(Photo by Steve Pfost/Newsday RM via Getty Images)

Saudi Arabia-led oil cartel OPEC+ just slashed its crude output – and that's stoked inflation fears. Here's what you need to know.

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Biden and Mohammed bin Salman (MBS) fist bumping.
Saudi Arabia said Sunday it'd cut its oil output by 500,000 barrels a day.

Bandar Algaloud/Reuters

OPEC+ may need to lift its oil output given signs China's reopening could deliver a strong boost to demand, IEA chief says

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People wait to cross a busy street intersection during evening rush hour on May 30, 2022 in Beijing, China.
Chinese demand for oil is showing signs of a strong recovery.

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