Russia’s plan to slash its oil output by 500,000 barrels a day next month shows the extent to which President Vladimir Putin is willing to use resources like energy as a weapon, White House National Security Council spokesperson John Kirby said at a briefing Friday in Washington.
(Bloomberg) — Russia’s plan to slash its oil output by 500,000 barrels a day next month shows the extent to which President Vladimir Putin is willing to use resources like energy as a weapon, White House National Security Council spokesperson John Kirby said at a briefing Friday in Washington.
Putin’s move doesn’t come as a big surprise following a decision by Group of Seven nations and the European Union to implement price caps on Russian oil and oil products, Kirby said. The US will continue to work with allies and partners, including those in the Organization of Petroleum Exporting Countries, Kirby added, saying he had no specific conversations to speak of today.
- Read more: Russia’s Oil Cuts Risk Renewed Inflation as China Roars Back
–With assistance from Gerson Freitas Jr..
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