The decision comes with US midterm elections around the corner, applying domestic pressure on the Biden administration with gas price hikes set to hit consumers hard.
Decision of OPEC+ to cut its oil production target by two million barrels per day was "purely economic" and adopted through consensus, says Saudi Foreign Ministry, after Washington vowed "consequences" for US-Saudi ties.
US President Joe Biden tells CNN there will be some consequences for America’s Mideast ally after a Riyadh-led coalition of oil-producing nations decided to slash output.
Biden administration is "assessing" its reaction to OPEC+ alliance's decision to cut two million barrels a day, officials say, as Western allies seek to cap oil money flowing into Russia's war chest.
The oil-exporting cartel cut production by a larger-than-expected 2 million barrels per day starting in November.
The reports come against the backdrop of falling oil prices and months of severe market volatility.
Once traditional allies of the US in the Middle East are now turning their backs on Washington and cozying up to Moscow and Beijing in a significant shift of loyalties.
OPEC+ says in a statement that it has decided to reduce output by 100,000 barrels per day in October, returning to the production level of August.
Petroleum exporting states and allies will meet with the aim to keep current output levels or even cut production to bolster prices, despite supplies remaining tight.
OPEC is considering cutting output to offset any increase from Iran if the nuclear deal is reinstated.
Crown Prince Sheikh Meshal al Ahmad al Sabah dissolved parliament earlier this month saying domestic politics were being "torn by disagreement and personal interests" to the detriment of the country.
Net income leapt 90 percent year-on-year for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5 billion for Q1.
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