Why Biden Needs To Relax Sanctions Against Venezuela

The recent shock OPEC+ production cut of nearly 1.2 million barrels per day caught the world by surprise and caused the price of oil to spiral higher, with Brent soaring 7% over the last two weeks to $85 per barrel. The cartel made this substantial production cut despite the considerable displeasure voiced by U.S. President Joe Biden and the potential it has of sparking a global recession at a time when inflation is rampant. The decision confirms Saudi Arabia’s return to being a global geopolitical powerbroker and the…