US Accuses OPEC+ Of Aligning With Russia After The Group Announces Big Output Cut

The United States has accused the Organisation of Petroleum Exporting Countries (OPEC) and their allies, collectively called OPEC+, of aligning with Russia after the group led by Saudi Arabia agreed on a massive cut in the oil production.

On Wednesday (5 November), the OPEC+ group announced it would reduce production targets by 2 million barrels a day, equivalent to 2 per cent of global supply, following its first in-person meeting in two years in Vienna.

The decision by OPEC+ came despite extensive lobbying by the US government before the meeting.

Criticising the OPEC+ move on cuts, the Biden administration said that it was a "shortsighted decision" while the global economy is dealing with the continued negative impact of Russia’s invasion of Ukraine.

White House spokesperson Karine Jean-Pierre told reporters it was “clear” Opec+ was “aligning with Russia” by announcing the production cut.

She added that the "decision by OPEC+ is one purported self-interest — is a mistake and it’s misguided".

Biden administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices, the White House spokesperson said, in an apparent reference to anti-cartel legislation known as NOPEC (No Oil Producing and Exporting Cartels) Act that has long been considered by US lawmakers but never passed.