US and China went against OPEC and Russia

The United States uses 50 million barrels of oil from strategic reserves, the White House reported. Other major oil consumers will go to the same step – United Kingdom, South Korea, Japan, as well as China and India. The statement notes that countries decided for measures due to the diplomatic efforts of Washington.

“This decision matters consultations with countries around the world, and we already see the impact of this work on oil prices. Over the past weeks, it became known about the work being done, oil prices have already decreased by ten percent,” – the statement says.

Speech about an unprecedented attempt to restrain the rise in oil prices, which can cause a response from OPEC +, writes Bloomberg. The decision of the United States and allies on reserves followed the organization of oil exporters and its partners opposed appeals to a significant increase in production, and becomes a challenge for the positions of Saudi Arabia, Russia and other representatives of OPEC + on the oil market.

The fact that US President Joe Biden persuaded some countries of the world to follow the example of his administration and use their own strategic oil reserves to reduce prices in global markets, Bloomberg found out on the eve of November 22. It was assumed that in the USA, the reserves of the national strategic reserve created in 1973 will be used after the global energy crisis. The statement of the White House indicates that it is necessary to reduce the prices due to the high cost of fuel for American consumers.

/Media reports.