‘OPEC Plus’, an advisory body for major oil producing countries, including the Organization of the Petroleum Exporting Countries (OPEC), stressed that the recent decision to cut production was purely for economic reasons.
According to foreign media such as Reuters, OPEC Secretary General Haitham Algais held a press conference in Algeria on the 16th local time and said, “We do not control oil prices.” “The recent production cut is to balance supply and demand.” he did
“The production cut is a technical decision only, and this is to maintain the stability of the market today as well as in the future,” explained Algays.
Saudi Arabia’s Defense Minister Khalid bin Salman tweeted, “Although the unanimous decision to cut production by OPEC Plus was purely for economic reasons, some claim that Saudi Arabia is on Russia’s side.” The oil producers of the Middle East, which fell outside the eyes of the United States because of the decision, are also protesting all at once, saying that the decision to cut production is based on economic indicators.
Earlier, at a monthly ministerial meeting on the 5th, OPEC Plus agreed to cut crude oil production by 2 million barrels per day next month.
In response, White House press secretary John Kirby said in a statement on the 13th that there was no reason to make a decision to cut production in light of market conditions, accusing him of “helping Russia morally and militarily. ”