jordan pulse -
US Secretary of State Anthony Blinken commented on the announcement by Saudi Arabia and Russia of their decision to extend the reduction in oil production for another 3 months until the end of 2023. Blinken said in a press conference from Kiev, commenting on the Russian-Saudi decision, “We will look at this matter carefully in the coming days and weeks to see “What results will it actually achieve and what will it reflect on the markets? The reduction could cause an immediate rise in prices, but this may quickly stabilize to a lower level.”
In addition, US National Security Advisor Jake Sullivan said that Saudi Arabia’s decision to extend the oil production cut until the end of 2023 is “a continuation of the current policy and not a new package of cuts.”
Sullivan explained that the most important thing that the US President focuses on is maintaining lower prices for consumers in the United States.
Russia and Saudi Arabia recently announced the extension of the voluntary reduction in daily oil production and exports until the end of the current year 2023. Oil
prices rose on Tuesday following the reduction decision, and Brent reached its highest level since November 18, 2022, after Russia and Saudi Arabia announced decisions to support oil markets.