US criticizes OPEC+ cuts aimed at increasing global oil prices ...Middle East

The Biden administration is criticizing an announcement by OPEC+ members that they will cut oil production, arguing it is not advisable. "We don’t think cuts are advisable at this moment given market uncertainty — and we’ve made that clear," a spokesperson for the National Security Council said. Saudi Arabia, along with Russia and other OPEC+ oil producers, announced Sunday that they are planning on cutting 1.16 million barrels per day, Reuters reported. This comes after the oil producing countries had already pledged to cut production of 2 million barrels a day through the end of the year. The cuts will begin next month, with Saudi Arabia planning its own 500,000 barrel-a-day r

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US criticizes OPEC+ cuts aimed at increasing global oil prices ...Middle East

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