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US Airs Frustration at OPEC Cut, Signals Repercussions for Bloc

  • 2 million barrel-a-day cut is cartel’s largest since 2020
  • US to release 10 million barrels of reserves in November
President Joe Biden

President Joe Biden

Photographer: Ron Sachs/CNP/Bloomberg

Updated on

The White House expressed frustration with plans by OPEC+ to cut output targets by 2 million barrels a day, announcing steps to curb its impact on energy prices and threatening repercussions for the oil cartel.

OPEC+ agreed Wednesday to the cut as it seeks to halt a slide in oil prices caused by the weakening global economy -- the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020.