Biden is outraged by OPEC+ decision to cut oil production
High gas prices is what's Biden don't need for elections
The United States is outraged by the decision of the countries of oil cartel OPEC and its allies such as Russia (OPEC+), to limit oil production. By reducing production, prices must be supported. According to the US, this measure is primarily a concession to Moscow, and the decision will also harm the global economy.
The thirteen-country OPEC cartel led by Saudi Arabia and the ten allies led by Russia agreed at a meeting in Vienna to reduce production by 2 million barrels per day from November, the group said in a statement. It is the largest production restriction of the countries since the peak of the corona pandemic in 2020. Oil prices are expected to rise as a result of the restrictions. This is happening at a time when countries are already struggling with sky-high inflation, mainly driven by rising energy prices.
“It is clear that OPEC+ is aligning itself with Russia with today’s announcement,” the White House press secretary said in a statement. The U.S. called the decision short-sighted. The US and Western allies are trying to isolate the Russian economy, which is heavily dependent on energy exports, in retaliation for the invasion of Ukraine.