July 2022 \ Cover Story \ FLAG: COVER STORY—WORLD ENERGY GEO-POLITICS
US energy advisor predicts fall in gas prices

Major crude oil producers are likely to take steps to ramp up oil production in the following weeks since US President Joe Biden’s visit to the middle east in July and talks with leaders, including Saudi Arabia's crown prince. Consequently, gas prices in the US could fall to $4 per gallon.

By Ashok Nilakantan

Hochstein did not specify which nations could boost oil exports, but he mentioned the president and his advisors met with members of the Gulf Cooperation Council (GCC), which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.


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Tags: USA, Crude Oil

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