OPEC oil cuts bad for global economy, says U.S.’s Yellen -FT By Reuters

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen participates in a discussion at the annual Freedman’s Bank Forum at the Treasury Department in Washington, U.S., October 4, 2022. REUTERS/Michael A. McCoy

(Reuters) – U.S. 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 criticised 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.

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