Last week, the OPEC+ group said it would slash oil production targets by two million barrels a day, defying pressure from the US, this sparked deep anger over last week’s Saudi-led OPEC Plus decision, and Biden’s staff announced that he would reevaluate the entire relationship with Saudi Arabia.
“There’s going to be some consequences for what they’ve done with Russia,” Biden said in an interview with CNN.
His comments on Tuesday come a day after prominent Democratic Sen. Bob Menendez, chairman of the Senate Foreign Relations Committee, said the United States must immediately freeze all cooperation with Saudi Arabia, including arms sales.
But Saudi economic consultant Majid Al-Suwaigh scoffed at the angry US response, telling Reuters it was in the market’s interest to curb oil production, and any rebuke from the White House was due to what he called a failure. of the United States and Europe to control inflation.
“Oil is a commodity, not a tool or weapon for the political process. This was unanimously done by the OPEC countries, and oil prices rising or decreasing is the result of the supply and demand, and this is controlled by the market, not the members.»
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The Saudis accuse the United States of neglecting its historic commitment to the kingdom’s security and being too accommodating to Iran, the Saudis’ regional nemesis, tracing complaints back to the Obama administration when Biden was vice president.
