US Bloomberg reported today, Friday, citing informed sources, that US President Joe Biden will leave the Middle East without an immediate announcement of an increase in oil supplies.
People familiar with the matter said Biden will leave the Middle East this week without announcing an increase in oil supplies until a scheduled meeting of producers next month.
US officials say the trip to Saudi Arabia will lead to an understanding of supplies.
The agency said the decision would be announced in due time at the upcoming OPEC+ meeting.
Biden, who took office and vowed to turn the world’s biggest oil exporter into a rogue nation over Jamal Khashoggi’s murder, said he decided to make the trip to advance American interests and try to curb the high gasoline prices that have hurt him. politically on the eve of the midterm elections.
Biden will travel to Saudi Arabia from Israel at a later date, where he will meet with King Salman bin Abdulaziz and his son, Crown Prince Mohammed bin Salman, and meet with other leaders of the Gulf oil exporting countries on Saturday.
U.S. National Security Adviser Jake Sullivan said: “I don’t think you should expect a specific announcement at the bilateral level because we believe that any additional action that is taken to ensure there is sufficient capacity to protect the global economy will take place in the context of OPEC+.
The national security adviser made the statement to reporters on a plane bound for Jeddah.
All OPEC+ members, including Saudi Arabia, remain bound by the oil production limits agreed upon at the start of the Covid-19 pandemic in April 2020, knowing that increasing production beyond current quotas requires unanimous consent.
An OPEC+ meeting is scheduled for August 3rd to discuss production policy for the month of September and beyond.
Source: US agency Bloomberg
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