Thursday, August 4, 2022

So little repeat for President Joe

OPEC tells Biden we won't produce more oil in embarrassing blow: Saudi-led group only increases production by a 'miniscule' amount as White House scrambles to insist Biden didn't meet MBS to ask for help with supplies

  • The cartel led by Saudi Arabia and Russia decided to raise production by 100,000 barrels per day for September
  • The amount is much lower than previous increases 
  • Follows Biden's trip to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman
  • The two men exchanged a fist bump
  • US intelligence concluded MBS was behind the murder of dissident Jamal Kashoggi
  • White House wouldn't condemn the move or call it an 'insult'
  •  'The fact of the matter is that oil and gas prices are coming down ... and they have been coming down since the President announced his trip'

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