| 15 April 2024, Monday |

Kremlin praises OPEC+ for countering U.S. ‘mayhem’

The Kremlin applauded OPEC+ on Sunday for agreeing to production cutbacks that effectively addressed the “mayhem” caused by the US in global energy markets.

The decision by OPEC+ to cut oil output amid staunch US opposition has strained already weak relations between President Joe Biden’s White House and Saudi Arabia’s royal family, according to Reuters on Saturday.

The White House worked hard to keep the production cut from happening. Biden seeks to avoid gasoline prices in the United States from rising again ahead of the midterm elections, in which his Democratic Party is fighting to preserve control of the United States Congress.

Kremlin spokesman Dmitry Peskov said it was very good that such “balanced, thoughtful and planned work of the countries, which take a responsible position within OPEC, is opposed to the actions of the U.S.”.

“This at least balances the mayhem that the Americans are causing,” Peskov said, according to Russian news agencies.

U.S. Treasury Secretary Janet Yellen said a decision by OPEC+ to cut oil production was “unhelpful and unwise” for the global economy, the Financial Times reported.

Peskov said that the United States had begun to lose its composure over the OPEC decision and was even trying to push additional volumes of its reserves into the market.

“They are trying to manipulate with their oil reserves by throwing additional volumes into the market. Such a game will not lead to anything good,” Peskov said.

  • Reuters