Borrell reveals the reason behind his decision "OPEC+" production cuts

The head of diplomacy in the European Union, Josep Borrell, expressed his conviction that the decision of OPEC + to cut oil production is connected with the decision of the West to set a ceiling on prices for Russian oil.

“OPEC’s decision to cut oil supplies is a clear response to our proposal for an oil price ceiling,” Borrell said ahead of an informal European summit in Prague.

According to him, today energy has become “the main geostrategic issue related to war and the balance of power in the world.”

“We intend to discuss this issue at the summit today,” Borrell added.

Earlier, the OPEC+ group decided to cut oil production by two million barrels per day, starting in November next year, and extend the agreement to reduce production until the end of 2023.

This decision caused outrage and disappointment in the United States. Brian Deese, chairman of the White House National Economic Council, called it “unjustified and unnecessary at a time when low demand is a major problem.”

He added that Washington is committed to “maintain the demand for energy resources in the world, that is, for oil and gas, at a sufficient level and maintain price stability.”

Source: RIA Novosti

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