The Biden administration weighed in with Saudi Arabia and other OPEC+ members urging them to hold off for another month before announcing oil production cuts – a move that would have delayed the stunning announcement until after the mid-term elections.
The administration framed its objections to the production cuts as boosting Russian President Vladimir Putin's brutal war in Ukraine.
But according to the Wall Street Journal, the Saudis rejected the admonitions, viewing the administration's objections as a 'political gambit by the Biden administration to avoid bad news.'
The administration also raised the issue with other Gulf producers, according to the report.
The cartel, which controls about 30 per cent of the world's oil supply, went ahead with the production cuts – which have the effect of maintaining high prices that help Putin continue to fund his war, while also delivering a spate of bad news headlines for Biden.
Gas prices and inflation are a top election issue, and Biden has called taming inflation his top priority.
read more here: https://www.dailymail.co.uk/news/article-11305219/Biden-administration-urged-Saudi-Arabia-wait-midterms-cut-oil-production.html
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