U.S. blames 'state actors' for manipulating, shocking oil markets

The United States on Monday accused "state actors" of trying to manipulate global oil markets, saying their actions contributed to a big drop in oil prices and adding that American energy suppliers were well placed to withstand the volatility.

"These attempts by state actors to manipulate and shock oil markets reinforce the importance of the role of the United States as a reliable energy supplier to partners and allies around the world," U.S. Energy Department spokeswoman Shaylyn Hynes said in a statement. The department did not name any country, but said it was watching the fallout from last week's OPEC+ meeting.

Saudi Arabia, the top producer in the Organization of the Petroleum Exporting Countries, and Russia both said they would raise production at the weekend after a three-year pact between them and other major oil producers to limit supply fell apart on Friday. U.S. crude fell nearly 25% to settle at $31.13 a barrel on Monday, after earlier dropping 33% to $27.34, the lowest since Feb. 12, 2016.