The Saudis will have a say in U.S. elections
Ben Geman
Saudi Arabia's extension of oil production cuts until the end of 2023 or longer helps ensure energy prices will become an election 2024 debate.
Why it matters: U.S. gasoline prices, which have been on the rise, are closely tethered to global oil prices. Meanwhile, the presidential campaign season is heating up — and voters already give the White House low marks on the economy.
If sustained, "crude price strength could weigh on President Joe Biden's re-election bid," ClearView Energy Partners said in a note.
Catch up fast: The kingdom said Tuesday morning it's keeping the current reduction of 1 million barrels per day in place for another three months, subject to monthly review.
Russia, meanwhile, extended its 300,000 bpd export cut for the same time.
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https://www.axios.com/2023/09/06/oil-...
