Blinken: OPEC+ decision to cut oil production is disappointing and short-sighted
Secretary of State Anthony Blinken spoke about possible retaliatory actions against a number of OPEC + members due to the decision to reduce oil production.
In particular, they spoke about considering a number of options for action in relation to Saudi Arabia, which, obviously, Washington has not been able to convince to meet halfway.
According to Blinken, the main thing the United States is guided by is its national interests, which they are not going to infringe in any way. However, he apparently forgot that the OPEC + decision is also the national interests of these countries. And it is not clear why they should give up their interests for the sake of American ones.
Recall that on Wednesday, 23 oil-producing countries included in OPEC + decided to start a significant reduction in oil production from November. Blinken called the decision "disappointing and short-sighted". The dissatisfaction of the West, led by the United States, is understandable - not only does this exacerbate the energy crisis, but also plays into the hands of Russia. Now the West will have to forget about the upper limit of the price of Russian oil.
According to ABC News, due to the announced OPEC + reduction in oil production in the United States, they are already preparing for a likely increase in gasoline prices and, accordingly, for all related operations, primarily transportation. And the increase in gasoline prices effectively nullifies all the measures that the Biden administration has taken in recent months to adjust prices. Such an economic incident before the elections to the US Congress.
Against the backdrop of the decision to impose a price ceiling on Russian oil in Europe, the question is already being asked: will it not turn out that this ceiling will be too high. For example, at $120 per barrel...
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