No worries, Joe is now recalibrating his relationship with the Saudis. Let's Go Brandon!!!
Saudi Minister: Using Emergency Oil Reserves ‘May Become Painful in the Months to Come’As the Biden administration ponders the path ahead in its strained relationship with Riyadh over oil production cuts, the Saudi energy minister has warned that decisions by some to use emergency oil stocks “may become painful in the months to come.”
Abdulaziz bin Salman said that “people” were using emergency oil reserves to manipulate markets rather than their intended purpose of mitigating shortages of supply.
In a further apparent swipe at the United States, he insinuated that the U.S. reaction to the October 5 decision by OPEC+ to reduce oil production by two million barrels a day had been an immature one.
The comments by the minister, at a major investment forum in Riyadh with a number of Americans present, are a further sign that the kingdom is not backing down in the dispute with one of its most important and longstanding allies.
Even so, Abdulaziz – son of King Salman and half-brother to Crown Prince Mohammed bin Salman – voiced optimism about the future. He called the row a “blip” in the context of a 90-year relationship, and expressed the view that “we’re going to get over this recent spat that I think was unwarranted.”
The “spat” revolves around the output cut decision by the Saudi-led cartel of oil producers that came despite strong U.S. appeals to increase output to bring down prices at the pump – and despite predictions by administration officials after President Biden’s trip to the kingdom over the summer that an output boost was on its way.
Biden slammed the OPEC+ announcement and signaled his intention to respond by “recalibrating” the relationship with Saudi Arabia................
https://www.cnsnews.com/article/international/patrick-goodenough/saudi-minister-using-emergency-oil-reserves-may-become
