Biden or OPEC?

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OPEC+ alliance announced a 2 million barrels a day cut in oil production
#opec #breakingnews #politics

Sources:
https://www.breitbart.com/politics/2022/10/05/joe-biden-complains-opec-oil-cuts-shortsighted-releases-more-strategic-oil-reserves/
Joe Biden Complains OPEC+ Oil Cuts Are ‘Shortsighted’ and Releases More Strategic Oil Reserves - BB

The White House on Wednesday expressed its frustration that OPEC+ had decided to cut production and announced additional releases of America’s oil reserves in an attempt to keep prices low.

“The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine,” read a statement from the White House on Wednesday after OPEC+ announced their decision to cut production by 2 million barrels per day. - BB

https://apnews.com/article/russia-ukraine-inflation-health-germany-elections-d873521f8b165774de3902439dd5a6ee?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_03

FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

Energy ministers cut production by a larger-than-expected 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of the COVID-19 pandemic.

The group said the decision was based on the “uncertainty that surrounds the global economic and oil market outlooks.” Saudi Energy Minister Abdulaziz bin Salman stressed the group’s stated role as a guardian of stable energy markets.

“We are here to stay as a moderating force, to bring about stability,” he told reporters. - AP News

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