US President Joe Biden and Saudi Arabian Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. Royal Court of Saudi Arabia / Handout/Anadolu Agency
Quartz: OPEC’s oil cuts force the US to reconsider its foreign policy
The US is accusing Saudi Arabia of "aligning with Russia" while seeking to restart Venezuelan oil production.
OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.”
Saudi Arabia, which controls about one-third of OPEC’s oil reserves and is seen as a US ally, has not heeded president Joe Biden’s plea against taking such a drastic step.
Three months ago, Biden traveled to the Middle Eastern nation to convince the kingdom’s de facto ruler, Crown Prince Mohammed Bin Salman, to pump more barrels.
Read more ....
Update #1: Biden's new Saudi strategy (Axios)
Update #2: Democrats Take on Saudi Arabia, UAE After OPEC+ Cuts Oil Production (Haaretx)
WNU Editor: Turning to hostile governments to replace your oil supply from Saudi Arabia is not a good strategy .... Dems turn to hostile dictators for oil production as gas prices tick up, GOP blame 'war on American energy' (FOX News)
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