The OPEC+ Monitoring Committee recommended that the decision to reduce oil production by 2,000,000 barrels per day be implemented. The main reduction will take place at the expense of Saudi Arabia and Russia, which acted as lobbyists for this decision. The main point of this decision is to drive up oil prices by cutting production, which is beneficial for exporting countries, including Russia and Saudi Arabia, which, even with a reduction in production, will benefit from a sharp increase in prices.

The US started calling this plan "a hostile act against the US" yesterday. But one should not be surprised at the Saudi demarche. Riyadh is on very bad terms with the Biden administration, so it is openly opposing the Biden administration's plans to control oil prices. Of course, under the Republicans, the Saudis can change their shoes, but right now the interests of Saudi Arabia and the Russian Federation coincided situationally, which of course did not please the United States. Biden's main problem is that he needs to keep the price of gasoline in the United States until the midterm elections, for which the United States extensively spends its strategic fuel reserves for most of the year.