A decision by the OPEC+ alliance of oil-exporting countries to sharply cut production and boost crude prices has dealt a blow to consuming nations, prompting accusations that Gulf producers are siding with Russia at the expense of the United States and its Western allies.The 13-nation OPEC group, plus 10 allies led by Moscow, agreed at a meeting in Vienna to slash output by two million barrels per day (bpd) starting in November, the group announced in a statement on Wednesday.The Biden administration, which for months has engaged in diplomatic efforts to dissuade its Middle Eastern allies from cutting oil production, reacted frustrated at the prospect of pump prices increasing further before a key midterm election.
Load More
Load More