The Biden administration reached out to Saudi Arabia and appealed with them to suspend the OPEC deal to limit oil production until after the November elections, according to a bombshell statement from Saudi Arabia.
Thursday morning, Saudi Foreign Minister Prince Faisal bin Farhan Al Saud stated that US officials’suggested’ delaying the decision to limit oil production by two million barrels per day by a month until after millions of Americans have voted on November 8.
The United Kingdom also refuted claims that it sided with Russia by asserting that it adopted a “principled stand” on the Ukraine conflict and stating that the OPEC decision was based solely on economics, not politics.
The White House responded angrily hours later, stating Saudi Arabia is ‘trying to spin or reflect,’ and reiterating that Vice President Biden will’reevaluate’ the relationship with the longstanding friends.
Last week’s OPEC decision has left the Biden administration scurrying and preparing for another surge in gas prices less than a month before congressional elections.
White House national security spokesman John Kirby responded in a statement issued on Wednesday: “The Saudi Foreign Ministry can try to spin or divert, but the facts are clear.” In recent weeks, the Saudis informed us – both publicly and privately – of their intention to restrict oil production, which they knew would raise Russian income and reduce the impact of sanctions.
Last week, OPEC+ declared it will reduce oil production by two million barrels per day, dealing a severe blow to the Biden administration, which had urged OPEC+ to increase production for months. As of Thursday, the average price per gallon is $3.91, an increase of eight cents since last week’s announcement of production reduction.
Russia will profit the most from this 2 million barrel reduction, Kirby said reporters in a conference call.
The reduction “allows [Putin] to continue funding his war-making machine, and it provided him, Mr. Putin, a sense of security,” Kirby concluded.
Saudi Foreign Minister Prince Faisal bin Farisal Al Saud stated, “The Government of the Kingdom clarified through its continuous consultation with the U.S. Administration that all economic analyses indicate that postponing the OPEC+ decision for a month, as suggested, would have had negative economic consequences.”
Wednesday, State Department spokesman Ned Price refused to corroborate allegations that the Biden administration had implored the Saudis to delay and spare them the political repercussions of the upcoming election.
“I cannot confirm that report in any way. I can affirm that we delivered a consistent message to the Saudis, namely that energy supply must match energy demand. Price stated that the United States has a variety of interests with Saudi Arabia, including the energy sector.
In the framework of these energy-related conversations, senior administration officials have been to Saudi Arabia in recent months. This interaction did not occur exclusively in October or September of 2022, he stressed.
However, a Saudi statement issued hours later hinted that the United States had requested at least a one-month postponement.
“Through its ongoing consultations with the U.S. Administration, the Government of the Kingdom clarified that all economic calculations indicate that delaying the OPEC+ decision by a month, as suggested, would have had negative economic implications,” bin Farhan Al Saud said.
Experts believe Saudi Crown Prince Mohammed bin Salman ordered the reduction at least in part to spite Vice President Biden and Democrats during the midterm elections.
In July, Biden had a heated meeting with the crown prince that began with a fist bump instead of a handshake.
Rep. Michael McCaul, chairman of the House Foreign Affairs Committee’s Republican caucus, stated that Biden should focus less on Saudi oil and more on domestic production.
The rise in gas prices is a direct outcome of President Biden’s assault on conventional U.S. energy production. Attempting to place the responsibility for rising petrol costs on foreign countries is absurd. Voters will not be duped,’ he declared in a statement.
The Texas Republican stated that the new spat between the White House and the Saudis would ‘alienate Saudi Arabia and jeopardize U.S. national security.’
After OPEC+ announced the decision, White House press secretary Karine Jean-Pierre termed it a “mistake” and accused Saudi Arabia of “aligning with Russia.”
The foreign minister stated that such an accusation is meant to “distort the truth” and asserted that Saudi Arabia has taken a “principled stance” regarding the Russia-Ukraine conflict.
Saudi Arabia refutes claims that it slashed oil production to aid Vladimir Putin.
In July, Biden had a heated meeting with the crown prince that began with a fist bump instead of a handshake.
In a statement, bin Farhan Al Saud said, “The Government of the Kingdom of Saudi Arabia would like to emphasize its unequivocal rejection of these assertions that are not founded on facts and that misrepresent the OPEC+ decision outside of its purely economic context.”
The foreign minister stated that Saudi Arabia supports UN resolutions about the war and opposes “any violation of the sovereignty of nations over their lands.”
“The Kingdom reaffirms its rejection of any dictates, actions, or efforts to distort its noble objectives to protect the global economy from oil market volatility,” bin Farhan Al Saud said. “While the Kingdom strives to preserve the strength of its relations with all friendly countries, it rejects any dictates, actions, or efforts to distort its noble objectives.”
However, Kirby stated that Washington gave Riyadh with a study indicating that there was “no market foundation” for production cuts and that Riyadh “could simply wait until the next OPEC meeting to see how things progressed.”
Other OPEC states informed us in confidence that they felt compelled to support Saudi Arabia’s direction.
During a press call, Kirby stated that Saudi Arabia had been “twisting arms” to convince other countries to agree to the cut, and that “more than one” had privately expressed reservations about doing so.
The production drop infuriated senators, who questioned why the U.S. had sold armaments to the Middle Eastern nation while disregarding human rights abuses and its role in the conflict in Yemen if it was not going to receive oil in return.
Biden asserted that Riyadh would face ‘consequences’ as aides indicated that the United States would reevaluate its relationship with Saudi Arabia.
In a CNN interview aired Tuesday evening, Biden stated, “There will be consequences for what they’ve done with Russia.”
He continued, “I will not discuss what I would contemplate and what I have in mind.” However, there will be – there will be repercussions.
However, the Saudi message displayed no animosity toward the United States.
The United Kingdom affirms that its relationship with the United States is strategic and serves the interests of both nations. The Kingdom also emphasizes the significance of building on the stable pillars that have supported the Saudi-American friendship for the past eight decades.