CNN: US ‘in panic’ over Saudi and Russian oil decision
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Saudi Arabia and Russia are going to drastically cut oil production. According to CNN, the White House is calling it a “complete disaster.”
Saudi Arabia and Russia are pushing for production cuts of 1-2 million barrels or more. According to the publication, production can be reduced in stages – within a few months, and at the expense of existing production. The size of the reduction, as noted, has not yet been agreed.
The Joe Biden administration, according to CNN sources, tried to convince its allies in the Middle East – Kuwait, Saudi Arabia and the United Arab Emirates – to vote against oil production cuts at the OPEC + meeting.
In the White House, according to records obtained by the channel, they do not restrain themselves, calling the prospects for a reduction in production a “complete catastrophe”, a “hostile act”, and describing their state on this occasion as “in a panic.”
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