Today: Saturday, 3 December 2022 year

The head of the US Treasury called the decision of OPEC + to reduce oil production unreasonable and useless.

The head of the US Treasury called the decision of OPEC + to reduce oil production unreasonable and useless.

US Treasury Secretary Janet Yellen called the decision of the countries participating in the OPEC + agreement to reduce oil production by 2 million barrels per day unreasonable and useless.

“I think the OPEC decision [to cut oil production] is useless and unwise. It is not known what impact it will have in the end, but it is definitely something that seems to me inappropriate in the conditions that we are facing,” she said.

“President spends a lot of time exploring all available options in an attempt to lower [oil prices],” she added.

In addition, Yellen, referring to the topic of Ukraine, stated the need to speed up the provision of financial assistance to Kyiv.

“We need other countries to fulfill their obligations. And it is very important to provide funding to Ukraine as soon as possible,” the minister said.