Oil, Opec cuts production. Biden “disappointed”

Since November production down by 2 million free

Opec Plus, the organization of oil-producing countries that also includes Russia, has decided to cut crude oil production by two million barrels a day starting in November. The decision came after a meeting in Vienna.



The reaction of Joe Biden, president of the United States, was immediate. “The president is disappointed with OPEC’s shortsighted decision to cut production quotas as the global economy continues to face the negative impact of Putin’s invasion of Ukraine,” said National Security Advisor Jake Sullivan. and the director of the National Economic Council, Brian Deese.

“At a time when maintaining the global supply of energy is extremely important – reads the statement released by the White House – this decision will have the greatest negative impact on low and middle-income countries that already have difficulties due to high energy prices. ‘power”.

“In light of this action, the Biden administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices,” adds the statement, noting how this announcement “reminds us why this is so. it is crucial that the United States reduce its dependence on foreign hydrocarbons “.



Source-www.adnkronos.com