WASHINGTON — Saudi Arabia rejected pleas by White House officials to delay last week’s OPEC+ decision to slash oil production until after next month’s midterm elections, the Wall Street Journal reported Tuesday.
US officials cautioned Riyadh that cutting oil output would weaken Washington’s already strained relationship with Saudi Arabia and that Washington would interpret the move as the kingdom taking Russia’s side in its ongoing war on Ukraine, according to the outlet, which cited unnamed sources.
Saudi leaders reportedly viewed the request as a “political gambit by the Biden administration to avoid bad news” ahead of the Nov. 8 elections, which will decide which political party controls Congress.
Instead, they pushed the decision by OPEC+, a group of two dozen oil-producing nations — including Russia — to cut oil production by 2 million barrels per day beginning next month.
Crude Oil prices subsequently spiked, adding more pressure to the global energy markets already strained by the effects of Russia’s invasion.
This is a developing story