Kremlin praises OPEC+ for countering US 'mayhem'

The Kremlin on Sunday praised OPEC+ for reaching agreement on production cuts that successfully counter the "mayhem" sown by the United States on global energy markets.

OPEC+'s decision to cut oil output despite stiff US opposition further strained already tense relations between President Joe Biden's White House and Saudi Arabia's royal family, Reuters reported on Saturday. The White House made a concerted effort to block the production cut. Biden hopes to prevent US gasoline prices from rising again ahead of midterm elections in which his Democratic party is fighting to maintain control of the US Congress. Kremlin spokesman Dmitry Peskov said that "it is very good that such balanced, thoughtful and planned work of countries that take a responsible position within OPEC is in opposition to the actions of the United States." "This at least balances the mayhem caused by the Americans," Peskov said, according to Russian news agencies. US Treasury Secretary Janet Yellen said OPEC+'s decision to cut oil production was "unhelpful and unwise" for the global economy, the Financial Times reported. Peskov said that the US started to lose its cool in the face of the OPEC decision and even tried to put additional volumes from its reserves on the market. "They are trying to manipulate oil reserves by putting additional volumes on the market. Such a game will not lead to anything good," Peskov said. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!