OPEC+’s decision to cut oil production to a large extent jeopardized the already strained relationship between the United States and Saudi Arabia. In this respect informs News week.
The decision was a blow to relations between the two countries, which under President Joe Biden’s administration pushed Saudi Arabia towards rapprochement with Russia and China.
According to the publication, in 2022, Saudi Arabia has already reduced its oil production despite the US urged the country to supply more oil to the market to combat rising inflation. As a result, the White House administration accused the Saudi authorities of supporting Russia and aggravating the energy crisis in Europe.
Earlier Tuesday, Japan Cabinet Secretary General Hirokazu Matsuno declarationHe stated that the country’s authorities plan to closely monitor the possible impact of the OPEC+ member countries’ decision to cut oil production on the Japanese economy in order to maintain the stability in the energy market.
Prior to that, the head of the US Treasury Department, Janet Yellen, said it was “sad” that some OPEC+ members decided to cut oil production.
In response, US President Joe Biden said the consequences of OPEC+ members’ decision to cut oil production were not as bad as some thought.