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Just in time for the summer travel season, OPEC has announced that they will continue their oil production cut all the way through December of 2025. This means gas prices will likely remain high, and possibly grow higher leading up to the presidential election.
Market Analyst Phil Flynn told KTRH, "It might not immediately add a lot at the pump, it definitely means that perhaps the price you're paying today is going to be the cheapest price that you pay for a while."
Flynn says this dependence on the Middle East gives them control over our energy prices, and it's exactly why we need to stop demonizing American oil and energy production. He said, "I'm afraid we are facing a world where we are going to be under-supplied with energy because of these short-sighted policies."
Flynn says the elephant in the room with regard to producing clean, cheap energy and not being reliant on OPEC any longer is nuclear energy.