‘Slap in the face’: Biden’s fist bump with MBS fails to move the OPEC needle significantly
2 years, 4 months ago

‘Slap in the face’: Biden’s fist bump with MBS fails to move the OPEC needle significantly

CNN  

CNN — Candidate Joe Biden promised in 2019 to make Saudi Arabia a “pariah” over the kingdom’s human rights record. “It’s a purely symbolic gesture.” Others go even further, describing the OPEC+ move as an insult given Biden’s journey to Saudi Arabia, the de facto leader of the producer group. “Well, no it doesn’t,” White House senior energy adviser for energy security Amos Hochstein said when asked by CNN’s Jim Sciutto whether the move will have a major effect. By contrast, on July 19 Hochstein told CNN he was “pretty confident” that OPEC+ would move to raise production “as a result of the president’s conversations.” Hochstein described Wednesday’s move as a “step in the right direction,” but declined to say if Biden was disappointed the increase wasn’t bigger.

History of this topic

OPEC+ oil alliance faces stagnant prices for crude while US drivers enjoy cheaper gasoline
2 weeks, 5 days ago
Key members of OPEC+ alliance are putting off production increases amid slack crude prices
2 weeks, 5 days ago
Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
2 weeks, 6 days ago
Saudi Arabia is losing its iron grip on global oil markets
2 weeks, 6 days ago
Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
3 weeks, 3 days ago
OPEC Has Little Room to Revive Oil Supply, Iran Official Says
4 weeks, 1 day ago
Saudi minister warns of $50 oil as OPEC+ members flout production curbs
2 months, 3 weeks ago
Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
4 months, 2 weeks ago
Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag
6 months, 3 weeks ago
Oil producers led by Saudis extended supply cuts amid slack prices
6 months, 3 weeks ago
Opec cartel to extend cuts to oil output in bid to prop up prices
6 months, 3 weeks ago
OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge
8 months ago
Saudi Arabia Needs Oil Price Near $100, IMF Says
8 months ago
Some OPEC+ members will cut the oil that they send to the world to try to boost prices
1 year ago
An unruly OPEC is causing problems for Russia and Saudi Arabia
1 year ago
Oil price climbs as Saudi-led cartel agrees to cut production
1 year ago
Saudi Arabia likely to extend additional oil supply cuts beyond December 2023
1 year, 1 month ago
Saudi Arabia defends oil supply cuts as prices hit fresh high
1 year, 3 months ago
Oil sizzles at 10-month high on Saudi, Russia output cuts; Brent over $91/bbl
1 year, 3 months ago
Oil Prices Surge as Saudi Arabia and Russia Extend Global Production Cut
1 year, 3 months ago
Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December
1 year, 3 months ago
Saudi to likely roll over output cut into Oct: What lies ahead for oil prices?
1 year, 3 months ago
Biden delays plans to restock nation’s emergency oil reserve
1 year, 4 months ago
Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers
1 year, 6 months ago
Oil Prices Rise 1 Percent on Saudi Plan to Deepen Output Cuts from July
1 year, 6 months ago
OPEC Plus will continue oil output cuts as prices remain unchanged
1 year, 6 months ago
OPEC: Saudi Arabia Cuts One Million Barrels Per Day Output to Stabilize Oil Market
1 year, 6 months ago
Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
1 year, 6 months ago
Saudi Arabia announces fresh output cut to boost oil price
1 year, 6 months ago
Oil Prices Surge Ahead of OPEC+ Meeting, Easing Debt Ceiling Concerns
1 year, 6 months ago
Oil prices remain steady as high inventories balance US debt bill development
1 year, 6 months ago
Oil prices surge on concerns over tightening supply
1 year, 7 months ago
Oil Prices Today: Oil edges lower in cautious trade ahead of US inflation data
1 year, 7 months ago
Oil market surges on shock output cuts
1 year, 8 months ago
Oil producers’ cuts could boost gasoline prices, help Russia
1 year, 8 months ago
OPEC+ cuts put $100/bbl oil back in sight
1 year, 8 months ago
Oil producers' cuts could boost gasoline prices, help Russia
1 year, 8 months ago
Oil Surges As OPEC+ Surprise Output Cuts Shake Markets
1 year, 8 months ago
Oil’s Not Well: Why OPEC+ has cut oil production and how it could affect countries – Firstpost
1 year, 8 months ago
Oil prices surge after OPEC’s surprise output cuts
1 year, 8 months ago
Saudis, other oil giants announce surprise production cuts
1 year, 8 months ago
Oil prices surge as Saudis slash production
1 year, 8 months ago
Oil plunges to January lows on report of OPEC increasing output
2 years, 1 month ago
Saudi, UAE back OPEC cuts as US envoy warns of 'uncertainty'
2 years, 1 month ago
Ahead of elections, Biden announces steps to reduce gas prices in U.S.
2 years, 2 months ago
Facing tough midterms, Biden releasing oil from US reserve
2 years, 2 months ago
U.S. terms OPEC+ decision on oil production a ‘mistake’, says it has favoured Russia
2 years, 2 months ago
‘Troubled marriage’: Oil spat unlikely to break US-Saudi ties
2 years, 2 months ago
Biden releasing 15 million barrels of oil from strategic reserve
2 years, 2 months ago
Biden considers telling American business to stop investing and expanding in Saudi Arabia
2 years, 2 months ago

Discover Related