OPEC Oil Cuts Bad for Global Economy, Says Yellen

Reuters
By Reuters
October 9, 2022Business News
share
OPEC Oil Cuts Bad for Global Economy, Says Yellen
Treasury Secretary Janet Yellen participates in a discussion at the annual Freedman's Bank Forum at the Treasury Department in Washington on Oct. 4, 2022. (Michael A. McCoy/Reuters)

Treasury Secretary Janet Yellen said a decision by the OPEC+ grouping to cut oil production was “unhelpful and unwise” for the global economy, especially emerging markets, the Financial Times said on Sunday.

“We’re very worried about developing countries and the problems they face,” Yellen told the newspaper in an interview.

She also criticized allies for being slow to send financial aid to Ukraine.

“The pace of transferring money to Ukraine is far too slow,” Yellen added, pointing out that some countries that had pledged assistance had not got round to disbursing it.

ntd newsletter icon
Sign up for NTD Daily
What you need to know, summarized in one email.
Stay informed with accurate news you can trust.
By registering for the newsletter, you agree to the Privacy Policy.
Comments