She said the snap oil production slump by member states in OPEC+ is ‘nonconstructive’ which can add, in addition to creating ambiguity in the global growth perspective’, a burden on the shoulders of concerned consumers.
Yellen considered the decision adopted by OPEC+ ‘deplorable’ at the condition that lowering oil prices is of paramount importance.
It is too early to evaluate the impact of this move taken by OPEC+ member states on the price of oil, she continued.
In the wake of the surprising decision of OPEC+ for cutting oil output on Sunday, the base price of oil in the transactions of the global markets registered a six percent growth.