This decision could ease the differences between the US and Saudi Arabia.
New steps of the G7 countries to limit the sale of Russian oil at an extremely low price will not be applied against OPEC producers. This was reported by Reuters with reference to a representative of the US Treasury Department.
Washington addressed the representatives of the Organization of the Petroleum Exporting Countries with this assurance.
This decision may ease the differences between the US and Saudi Arabia, which is the leading exporter of oil and the de facto leader of OPEC.
As you know, the Organization has decided to cut oil production by 2 million barrels per day to balance the markets, in response to claims of price caps on Russian oil due to Russia's full-scale invasion of Ukraine.
According to the interlocutor of the publication, the limit price, which should be set on December 5, was designed specifically to counter Russia's invasion of Ukraine and will not apply to other producers, and their production curbs push up prices.
The new sanctions also do not signal the creation of a cartel of buyers to counter the impact of OPEC's policies on the oil market, the official said.
Also read: Lower reduction of OPEC+ oil production will not help Russia – expert Senator Bob Menendez also called on Washington to suspend all cooperation with Saudi Arabia due to Riyadh's decision to support Russia's war in Ukraine by cutting oil production.
