For months, US President Joe Biden has lobbied Saudi Arabia and other oil-producing countries to help ease energy prices by pumping more oil.
But in a major policy reversal, the OPEC+ group – that includes Russia – decided to cut output by two million barrels a day in November.
The United States says the decision is shortsighted. It has accused the kingdom of siding with Moscow, which relies heavily on its oil revenues. OPEC+ says the move is purely economic – a response to uncertainty about future oil demand.
Elsewhere, the IMF is known as the world’s “financial firefighter”, but few people like its harsh lending conditions.
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32 Comments
and if OPEC decides to collectively sell Oil in currencies other than USD in response to NOPEC?
Biden: we defend Ukraine and expose the American people to a nuclear disaster for Ukraine is a sovereign country!
Biden: I will punish Saudi-Arabia for daring to make sovereign decisions!
So they can SCREW THE WORLD…!!! EASY ISN'T IT…?
I love to see Argentinians struggling, fuqing racists😠
It's simple, MBS don't like USA.. They like China better or Russia..
Time to go solar, wind, and hydroelectric and leave the sand dunes for the 🐪 s to graze.
the only solution is that the War needs to end
Why not?
The truth is basic. OPEC doesn't want to trade it's oil in dollars anymore. If these OPEC countries stop trading in dollars the American Bank will have to sell its bond to its oppositions. It was Saudi Arabia who agreed to trade oil in dollars during the Roosevelt era (ArAmCo)…the rest is as it is.
OPEC+ does not take kindly to countries that destroy petroleum infrastructure of member states – namely the NordStream pipeline
AJ, your floor needs some cleaning. 😂
biden cannot be effective an effective president because he is just like a dummy being controlled by his puppeteers, the democratic party, aside by being a real dummy himself who is at a lost many times before public audiences.
💰
I think it’s good Saudi Arabia wouldn’t give anything to Biden maybe he’ll lose all the elections because of it so I’m all for it they know what they’re doing Biden is no good and why does he want to even punish Saudi Arabia they didn’t do anything
Necessity is the mother of invention. When this is over OPEC you will find that your oil is not as profitable as it once was. I don't know whether to give you the finger or thank you.
Looks like the world has had enough of the old ways. The centre of power is shifting from west to east.
American exceptionalism is demanding the whole world to shoulder its mistakes and loses. Why should we? They never cared about the world then why the world should care about them?
Biden and US Democrats will put pressure on Saudis to drop the price of the down knowing very well they’re playing for Putin’s game plan! Saudis hardly producing any oil these days as they’re one of biggest Russian
oil buyers along with China! They’re getting at discounted price from Putin hence have to abide to his strict rules if Saudis intend to resell especially to US & Europe! So Bin Mohammed Sultan is under severe president from both US & Russia will finally have to pave the way to Biden’s demand!
Maybe Biden should open up at home in US .why are we shutting off our own oil and gas
Dauphin River First Nation Manitoba Canada 🇨🇦
??? Did you say IMF debt is 100Billion? Its has cost more than that to supply weapons to Ukraine for 6 months.
Karma on US to face rising energy prices. OPEC+ is doing the right thing. This is not Rocket Science. US is reaping huge profits by selling gas to EU at the expense of her own taxpayers' needs- even taking the risk to reduce her stockpile.
It is time to replace the dollar. The actual responsible for all the problems of this glob right now!
Nopec bill will not pass. Saudi Arabia will threaten to stop weapons purchases from the US and the overlords of US, ie the weapons manufacturers, will stop the bill from being passed.
Wow – we made alot of enemies in the last year.
The timing is the problem. Elections and the fact that Russia will be able to add funds to the war chest.
to follow the orders of wef to make everything expensive just like it was done in 1970s.
How can there be a sharp decline in industrial production when the war has demanded that the EU and the US have to produce more weapons going forward? More weapons usually means higher industrial production.
NOPEC will only give a reason for OPEC+ to never accept US$ for their oil.. and that's the end of the US arrogance.. IMHO
Mafia of US & EU
We should put price cap on European and US products
USA assumed they could sabotage Nord Stream and make EU dependant while selling opec oil and gas to the EU. The biggest mistake USA made was sabotaging Nord Stream.