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Tuesday, July 5, 2022
Saudis Unwilling To Upset Putin As Biden Begs For More Crude
"The world’s largest crude oil exporter,
Saudi Arabia, continues to keep close ties with Russia
while the top oil consumer, the United States, pleads with major producers—including the Kingdom—to boost supply to the market and help ease consumers’ pain at the pump. While the U.S. and its Western allies are sanctioning Moscow and banning oil imports from Russia, U.S. President Joe Biden is also turning to Saudi Arabia to ask it to pump more oil as Americans pay on average $5 a gallon for gasoline.
while the top oil consumer, the United States, pleads with major producers—including the Kingdom—to boost supply to the market and help ease consumers’ pain at the pump. While the U.S. and its Western allies are sanctioning Moscow and banning oil imports from Russia, U.S. President Joe Biden is also turning to Saudi Arabia to ask it to pump more oil as Americans pay on average $5 a gallon for gasoline.
Saudi Arabia has publicly reiterated its
“warm” ties with Russia on several occasions since Putin invaded
Ukraine, and considers keeping Russia in the OPEC+ alliance an important
part of its oil policy." ZeroHedge
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