OPEC and Russia surprised by Saudi Arabia’s oil production decision 12:17

Saudi Arabia’s decision to cut oil production unilaterally came as a big surprise to both OPEC and Russia. In this respect informs Reuters, citing the source.

The interlocutors of the organization noted that the kingdom kept the plan secret and there was no discussion. OPEC members and Russia only agreed to extend oil production restrictions until 2024, and learned of Riyadh’s maneuver at a press conference on June 4.

In the broadcast, it was stated that the decision to cut oil production was announced by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman. In this case, it is likely that the kingdom’s plan did not work. Oil prices briefly rose, but failed to exceed $80 per barrel.

June 9 Washington Post WroteHe said the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, threatened the US economy in response to criticism of cutting oil production and supply to the West.

Prior to that, the American newspaper The Wall Street Journal (WSJ) wrote that the Saudi Arabian authorities’ decision to voluntarily reduce oil production by 10% or 1 million barrels per day was largely unforeseen and would strengthen the United States. The position of its main competitors in the world energy market, including Russia.

Source: Gazeta


More from author

See LIVE and LIVE ONLINE on Movistar Napoli vs. Real Madrid, of the Champions League 2023-2024: where to watch, TV, channel and streaming

The White team will be looking for the three points in the home base of the current Italian champion.The second day of the Champions...

Ronaldo’s goal helps Al-Nasr win the Champions League match 23:20

Saudi Arabia's Al-Nasr defeated Tajikistan's Istiklol in the AFC Champions League group stage match.The match held in Saudi Arabia ended with a score of...

A court in Moscow arrested a person suspected of massacre 23:00

A 62-year-old man who attacked two people was arrested in Moscow, according to law enforcement officials. In this respect reports District attorney's office.According...

The USA did not disclose the details of the Biden-McCarthy agreement on Ukraine 23:00

In her briefing with reporters, White House spokeswoman Karine Jean-Pierre did not disclose the details of the agreement that US President Joe Biden made...