Can OPEC Save the USA?! Biden says he will ‘not ask Saudi Arabia individually to increase its oil production…but would instead encourage all Gulf States to increase oil output’
President Biden said Thursday he would not ask Saudi Arabia individually to increase its oil production on his forthcoming visit to the Kingdom, but would instead encourage all Gulf States to increase oil output.
Speaking during a press conference at the NATO Summit on Thursday, the president said, “I’m not going to ask them” when asked whether he would ask the King or Crown Prince of Saudi Arabia to increase oil production on his forthcoming trip.
“All the Gulf States are meeting. I’ve indicated to them that I thought they should be increasing oil production generically, not the Saudis particularly, and I think that we see them in their own interest concluding that make sense to do,” Biden said.
On Thursday, OPEC+ — the international oil cartel effectively led by Saudi Arabia – held a meeting via video conference where the group decided not to further increase oil production from its previously announced plans. The group will meet again August 3.