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OPEC+ Oil Output Cuts
OPEC+ Oil Output Cuts
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Overview
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The US has been given a "heads up" about the surprise OPEC+ oil production cut, with National Security Council spokesman John Kirby stating that the move is not advisable and that it does not further souring relations with Saudi Arabia. The White House said that crude oil prices had fallen significantly, suggesting the US did not hold the Saudis solely responsible for the decline in output. However, the Biden administration has denied the decision and has defended its position on the issue.
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