Why did OPEC+ slash oil output? | Counting the Cost

For months, US President Joe Biden has lobbied Saudi Arabia and other oil-producing countries to help ease energy prices by pumping more oil. But in a major policy reversal, the OPEC+ group – that includes Russia – decided to cut output by two million barrels a day in November. The United States says the decision is shortsighted. It has accused the kingdom of siding with Moscow, which relies heavily on its oil revenues. OPEC+ says the move is purely economic – a response to uncertainty about future oil demand. Elsewhere, the IMF is known as the world's "financial firefighter", but few people like its harsh lending conditions. Subscribe to our channel http://bit.ly/AJSubscribe Follow us on Twitter https://twitter.com/AJEnglish Find us on Facebook https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ @AljazeeraEnglish #Aljazeeraenglish #News
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