Juscelino F. Colares, JD, PhD; Schott-van den Eynden Professor of Business Law, School of Law

Law’s Juscelino Colares discusses surge of oil prices

A surprise move by OPEC+ expected to cause more pain at the pump
WEWSJuscelino Colares, the Schott-van den Eynden Professor of Law, called a surprise move by Saudi Arabia and other OPEC+ oil producers that sent oil prices surging “bad news” for American consumers. “It seemed that the fed was ready to kind of do a pause and signal that in the future, toward the second half of the year, when we’re expecting to have a recession, the fed would stop and even decrease rates,” he said. “Now, it forces the hand of the fed to perhaps continue with small increment increases for longer than it might have desired.”