White House Confirms Biden Admin Asked Saudis to Postpone Oil Cuts Until 1 Month After Midterms
The Biden administration confirmed Thursday it asked Saudi Arabia to delay an OPEC+ vote to cut oil production until its next meeting, which comes after the 2022 midterms.
“We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed,” National Security Council spokesman John Kirby said in a statement.
Kirby did not directly say that the White House had sought to have Saudi Arabia, a key member of OPEC, delay the vote until after the midterms. But according to OPEC’s website, the next meeting is scheduled for Dec. 4, about a month after the midterm elections where analysts favor Republicans to take back at least the House….