OPEC+ warning to the intervention of energy buyers in the oil market

According to Fars International Economic Group, quoted by Tass, Russian Deputy Prime Minister Alexander Novak said that OPEC+ criticized the “unacceptable” gamble of the West led by the United States by imposing a price ceiling to create a cartel of energy buyers and warned that This type of intervention leads to imbalance in the market.

He warned: “Our colleagues in OPEC+ have already announced that this (action) is unacceptable for the market.” “When customers start interfering in the market economy, it will only lead to imbalances.”

Noak added, OPEC+ member countries remain united and the sanctions imposed by the West will only strengthen this unity.

He noted: “Cohesion existed and exists and is based on understanding what is happening in the market and is influenced by various factors, one of which is sanctions.”

The OPEC+ group has decided to reduce production by 2 million barrels per day until the end of 2023, despite the pressure from the West and due to the economic effects on the oil markets.

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