VIENNA — The Organization of the Petroleum Exporting Countries and its allies led by Russia on Wednesday agreed to a reduction of two million bpd, delegates said, in a move likely to prop up global energy prices. capital was high and helped Russia export its war oil in Ukraine.
This decision could undermine a plan by the Group of Seven wealthy nations to Russian oil price limit in the global market, an important part of The West’s Economic War With Moscow. It comes less than three months after President Biden visited Saudi Arabia, OPEC’s de facto leader, in an effort to repair ties between the world’s biggest oil consumer and exporter. their biggest crude oil during a period of rising inflation partly due to high energy. price.