>>Oil Prices Surge As OPEC Slashes Output
(New York, NY) -- The price of oil is surging today. The spike comes after OPEC's surprise announcement it will slash production by a million barrels per day. Saudi Arabia said the voluntary cut will start in May with the goal of stabilizing the oil market. Analysts warn the move could push oil prices back up toward the 100-dollar per barrel mark again.
>>White House "Disappointed" In OPEC Production Cuts Decision
(Washington, DC) -- President Biden is disappointed in what he's calling a "shortsighted decision" by OPEC oil-producing countries. Saudi Arabia and Russia are among a number of countries that announced on Sunday voluntary oil production cutbacks from May until the end of the year. The Saudi energy ministry is calling the cutbacks a "precautionary measure" to keep the oil market stable. Saudi Arabia and Russia intend to cut production by 500-thousand barrels per day. In a White House statement, Biden criticized cutting oil-producion quotas "while the global economy is dealing with the continued negative impact of Putin's invasion of Ukraine."
>> Poll: Americans Pessimistic About Economy
(Washington, DC) -- Most Americans are apparently pessimistic about the economy. A recent Gallup poll showed 83-percent surveyed view current economic conditions in the U.S. as "poor" or "only fair." Only 16-percent responded that they view conditions as "good" or "excellent." Almost three in four Americans think those conditions are getting worse. The poll also found that citizens continue to see inflation as their number one concern.
>>The Week Ahead In Economic Reports
(Undated) -- There are a slew of economic reports on the calendar in the coming week. Things get going today with data on construction spending. Job openings and factory orders are due Tuesday. The ADP employment report comes out the next day, followed by weekly jobless claims Thursday morning. The government's monthly jobs report will be released Friday along with February's consumer credit report.
>>"Dungeons and Dragons" Flick This Week's Top Pic
(Los Angeles, CA) -- An adventure movie based on a role-playing game is the top film in North America. "Dungeons and Dragons -- Honor Among Thieves" earned 38-and-a-half-million-dollars in its first weekend in theaters across the U.S. and Canada. Coming in second is last week's top-earning film "John Wick -- Chapter 4" with just over 28-million-bucks. Rounding out the Top Five are "Scream 6," "His Only Son" and "Creed 3." "Shazam -- Fury of the Gods" came in sixth place with nearly five-million-dollars.