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By ignoring the US and slashing its oil production, the OPEC+ group demonstrated the tightening bond between Saudi Arabia and Russia.
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By ignoring the US and slashing its oil production, the OPEC+ group demonstrated the tightening bond between Saudi Arabia and Russia.
The president is disappointed by the shortsighted decision by OPEC+.
Major oil-producing nations led by Saudi Arabia and Russia are expected to make this week their biggest output cut since the start of Covid.
OPEC+ will probably stick with a planned increase in its oil output target for March when it meets on Wednesday next week.
Oil prices fell on Tuesday after President Biden announced the release of 50 million barrels of oil from the country’s strategic petroleum reserves.