The Kremlin came out with a statement on Sunday, praising OPEC and its allies (OPEC+) for successfully countering America’s opposition to cutting oil production.

Key quotes

“The US is trying to manipulate with its oil reserves. Such a game won't yield any good outcome.”

“The US has begun to lose its cool as a result of OPEC+ decision to reduce oil production.”

“Working within OPEC+ framework levels out the mess US is creating in the global energy market.”

On the other side, US Treasury Secretary Janet Yellen said that the OPEC+ oil production cut was “unhelpful and unwise” for the global economy, particularly emerging markets already struggling with high energy prices, per the Financial Times (FT).

She added that “we’re very worried about developing countries and the problems they face.” Please use the sharing tools found via the share button at the top or side of articles.
“I think we’re going to exchange views on whether our countries are addressing these problems, and try to consider whether our collective reaction adds up to something that is sensible, and the best we can do, in that difficult environment,” Yellen added.

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