The Kremlin praises OPEC+ for blocking US mayhem
The Kremlin issued a statement on Sunday, October 9, praising OPEC+ for successfully countering the “mayhem” caused by the United States in global energy markets by agreeing to production limits and putting them into effect.
According to a report by Reuters on Saturday, October 8, the decision by OPEC and its allies to restrict oil production despite strong opposition from the United States has further strained the already tight relations between President Joe Biden’s White House and the Saudi Arabian royal family.
The White House exerted significant effort to avert the reduction in output. Before the upcoming midterm elections in the United States, in which his Democratic party is fighting to keep control of Congress, President Biden is working to prevent another spike in the price of fuel in the country.
Dmitry Peskov, a spokesman for the Kremlin, stated that it was very positive that “balanced, deliberate, and planned work of the nations which take a responsible position within OPEC” is opposed to the actions of the United States.
According to reports from Russian news media, Peskov was quoted as saying that “this at least balances the mayhem that the Americans are producing.”
According to the Financial Times, United States Secretary of the Treasury Janet Yellen referred to a move by OPEC+ to decrease oil production as “unhelpful and imprudent” for the economy of the entire world.
According to Peskov, the United States was beginning to lose its composure as a result of the decision made by OPEC and was even attempting to push more 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.
On Sunday, the Kremlin gave credit to OPEC+ for successfully counteracting the “mayhem” that was seeded by the United States in the global energy markets by agreeing to production limits and sticking to them.
The White House exerted significant effort to avert the reduction in output. A second spike in the price of gasoline in the United States is something that the President of the United States, Joe Biden, is working to prevent in advance of the midterm elections in which his Democratic party is fighting to keep control of Congress.