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The oil war between the United States and OPEC has begun. And unfortunately, there will likely be casualties in the form of our wallets being pinched again.

The United States is now draining the SPR: its Strategic Petroleum Reserve. This is the nation's emergency store of oil, which it has set aside to use in times of crisis. The only thing is, there isn't really a major crisis that's going on, only the US government trying to keep prices low for the public.

This is playing right into the hands of OPEC, the world's major oil cartel controlling the vast majority of our oil production. OPEC has the ability to heavily manipulate the supply, meaning they can drive up prices. And the worse the pricing situation gets, the more the USA will dip into the SPR, and the more control OPEC will have.

Let me know your thoughts below.

0:00 - Held hostage over oil
0:36 - The Strategic Petroleum Reserve
2:03 - OPEC's oil price restrictions
2:43 - Why the US is at oil risk
4:15 - Saudi Arabia and NordVPN
5:29 - The SPR and NOPEC
8:18 - Why we should be concerned

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Sorelle and Leon.
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*We may earn a commission if you buy any products or services via the links in this video's description. This video is not investment, financial, or legal advice. It may be incorrect, outdated, inaccurate, or reflect personal opinions. This video is for entertainment purposes only.

Presented by Sorelle Amore.
Written by Leon Hill.

#OPEC #SPR #OilIndustry