Kremlin praises OPEC+ for countering US 'mayhem'

The White House pushed hard to prevent the output cut. Biden hopes to keep US gasoline prices from spiking again ahead of midterm elections.

 A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. (photo credit: REUTERS/DADO RUVIC/FILE PHOTO)
A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020.
(photo credit: REUTERS/DADO RUVIC/FILE PHOTO)

The Kremlin on Sunday praised OPEC+ for agreeing on production cuts that had successfully countered the "mayhem" sown by the United States in global energy markets.

The OPEC+ decision to cut oil production despite stiff US opposition has 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 pushed hard to prevent the output cut. Biden hopes to keep US gasoline prices from spiking again ahead of midterm elections in which his Democratic party is struggling to maintain control of the US Congress.

Kremlin spokesman Dmitry Peskov said it was very good that such "balanced, thoughtful and planned work of the countries, which take a responsible position within OPEC, is opposed to the actions of the US."

"This at least balances the mayhem that the Americans are causing," Peskov said, according to Russian news agencies.

A panoramic view of the Kremlin, St. Basil's Cathedral and Zaryadye Park in Moscow, Russia, May 12, 2022. (credit: REUTERS/EVGENIA NOVOZHENINA)A panoramic view of the Kremlin, St. Basil's Cathedral and Zaryadye Park in Moscow, Russia, May 12, 2022. (credit: REUTERS/EVGENIA NOVOZHENINA)

Cutting oil production was "unwise" - US

US Treasury Secretary Janet Yellen said a decision by OPEC+ to cut oil production was "unhelpful and unwise" for the global economy, the Financial Times reported.

Peskov said that the United States had begun to lose its composure over the OPEC decision and was even trying to push additional volumes of its reserves into the market.

"They are trying to manipulate with their oil reserves by throwing additional volumes into the market. Such a game will not lead to anything good," Peskov said.

"They are trying to manipulate with their oil reserves by throwing additional volumes into the market. Such a game will not lead to anything good."

Kremlin spokesman Dmitry Peskov