[앵커]
Last summer, US President Joe Biden went to Saudi Arabia and called for an increase in production, despite criticism that it was “shameful.”
When the decision to cut production was made at a meeting of oil producing countries where even Russia, subject to Western sanctions, took part, a number of rumors are coming out.
This is reporter Han Mi-hee.
[기자]
Deputy Prime Minister Alexander Novak of Russia, who was subject to personal sanctions from the West for the invasion of Ukraine, attended the OPEC+ meeting on the 5th, when major oil producing countries decided to cut production.
Deputy Prime Minister Novak is a key figure in leading cooperation with other oil-producing countries to ease Western sanctions on Russia’s energy industry.
At this meeting, as the biggest production cuts since the COVID-19 pandemic took place, Saudi Arabia and the United Arab Emirates, once allies of the United States, are said to have clearly sided with Russia.
OPEC cooperation is desperately needed for sanctions against Russia and price stability, and the Biden administration, ahead of the midterm elections next month, is sure to be more sensitive.
“It is disappointing (about OPEC’s decision to cut production). We are looking for alternatives that we can get.”
President Biden, estranged from Crown Prince Mohammed, who was blamed for the murder of a journalist, could not stand inflation and visited Saudi Arabia in July to encourage increased production, but returned to Korea without results and he received harsh criticism.
The New York Times said, “The days when the president of the United States demanded a favor from Saudi Arabia by promising friendly relations or deterring foreign aggression are over.”
On the other hand, some are wary of excessive political interpretation along with the analysis that the Saudi-led agreement will have a limited impact on the United States.
Foreign Policy, a diplomatic media outlet, analyzed the production cut as “not a punitive political act, but a fear of a recession that would cause a sudden drop in global oil demand.”
An expert in the oil industry at consulting firm Foreign Reports also pointed out that it was an ‘agreement following the global economic crisis’ and that it was “foolish to define Saudi Arabia as taking Russia’s side.”
This is Han Mi-hee’s Yonhap News Agency.
#OPCE+ #Saudi Arabia #Ole_Reduction
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