The whole raison d’être for the existence of OPEC is to control the price of oil. I’m not sure why anybody thought that OPEC would just sit by while US tries to crash oil prices.
US, or at least part of their establishment, probably did thought that, as evidenced by people there freaking, including Sanders calling OPEC “illegal price-fixing cartel”.
What I find most amusing here is that US is currently doing exact same thing to Germany with LNG, and Habeck is demanding that US sell LNG to him at a price he wants. It’s such a clown world.
“Illegal LPG price fixing cartel” :D
Also, OPEC itself was originally created to stop the anglo big oil cartel from monopolizing oil production.
Literally 1973
capitalists shocked with capitalism
How is this a setback?
Less oil means that oil and gasoline prices will go up. Biden and Scholz both asked Saudi-Arabia to increase production instead.
oh I saw it from the perspective that we should try to use as little oil and gas anyways.
It’s straight up explained in the article - russian economy greatly depend on oil being expensive - so US and their vassals were trying to lower the prices as part of the economic war. Rising prices will benefit Russia while also worsening crisis in Europe. Even worse for them, it means that the reported flirt of Saudis with Russia was not a hearsay and it had much greater range than imagined. OPEC basically directly opposed USA on this.
