HomeMediaLatest NewsWHY THE OPEC ACTIONS DO NOT SUIT THE US ADMINISTRATION

WHY THE OPEC ACTIONS DO NOT SUIT THE US ADMINISTRATION

07 July 2021

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, Director of the Center for Economic Expertise of the Higher School of Economics, commented to a REGNUM correspondent, why the actions of OPEC do not suit the US Administration.

The American administration is not satisfied that the OPEC countries, which control about 5 million barrels / day of unused production, cannot agree on its return to the world market. Marcel Salikhov, Director of the Center for Economic Expertise of the Higher School of Economics, told a REGNUM correspondent about this.

"Although the United States is "in interaction" with OPEC +, in fact, it does not participate in the implementation of agreements to limit production - the authorities have no leverage over the decisions of private oil companies to increase or decrease oil production,- Salikhov said. - However, the United States is interested in increasing production from OPEC + and lowering the price level, since it is a net importer of oil. The US administration is not satisfied that the OPEC + countries, which control about 5 million barrels / day of production, cannot agree on the return of this production to the market".

 

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