Re: Saudi Arabia and OPEC Reveal Surprise Oil Production Cut

Quote from: zasad@ on Today at 04:23:13 PM

https://news.bitcoin.com/saudi-arabia-and-opec-reveal-surprise-oil-production-cut-white-house-insists-cuts-arent-advisable-right-now/

On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members as a “precautionary measure” to stabilize the oil market.

White House response
https://www.bloomberg.com/news/articles/2023-04-02/opec-output-cuts-aren-t-advisable-right-now-white-house-says#xj4y7vzkg

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Are the US authorities no longer in control of the world situation?

The US shouldn't have messed with Saudi Arabia. Biden was soooo rude during his last visit to Saudi Arabia he even insulted the prince himself. Besides there are rumors the prince is a good friend of the president of Chechnya, the notorious Ramzan Kadyrov. As a result, it seems Saudi Arabia is switching sides and will be way more friendly towards Russia and China.