An oil alliance between Russia and Saudi Arabia could deal a blow to the US economy, Bloomberg writes.
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The agency recalls that in 2020 the US acted as “peacemaker” in the OPEC price conflict, but now the United States itself has become a target for the members of the alliance.
“An oil alliance between Saudi Arabia and Russia has the potential to cause all sorts of problems for the US economy – and even for President Joe Biden’s election campaign,” the article said.
On 2 April, it became known that Saudi Arabia will voluntarily reduce oil production from May to the end of 2023 by 500 thousand barrels per day.
A similar decision to reduce oil production was taken by Iraq, Kuwait and Oman, as well as Kazakhstan. Russia, too, will extend its oil production cut by 500,000 bpd until the end of 2023.
Following this news, global oil prices accelerated by more than 5%.
The White House said that the US does not consider this decision by OPEC+ members to be reasonable.
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