Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
US President Joe Biden warned Tuesday that there will be “consequences” for Saudi Arabia after Riyadh threw its weight behind a production cut by the oil cartel OPEC+ which has sent prices soaring.
“There’s going to be some consequences for what they’ve done with Russia,” Biden said in an interview with CNN. “I’m not going to get into what I’d consider and what I have in mind. But there will be — there will be consequences,” he said.
Biden also said it is time for Washington to rethink its relationship with the kingdom.
His remarks came days after a decision by the Organization of the Petroleum Exporting Countries (OPEC) and Russia, also known as OPEC+, to cut production by 2 million barrels a day starting in November. Oil prices quickly jumped by some 10% before moderating slightly this week.
The Biden administration has reacted furiously to the decision, accusing OPEC+ of aligning itself with Russia as the Kremlin continues to press its war on Ukraine.
Earlier in the day, National Security Council spokesman John Kirby said Biden was working to re-evaluate the US’s relationship with Saudi Arabia.
“This is a relationship that we need to continue to reevaluate, that we need to be willing to revisit, and certainly in light of the OPEC decision, I think that’s where he is,” Kirby said during an interview with CNN.
Kirby said Biden is now willing to work with Congress to re-work the US-Saudi relationship.
“The president is obviously disappointed by the OPEC decision and is going to be willing to work with Congress as we think about what the right relationship with Saudi Arabia needs to be going forward,” he said. “He’s going to be willing to start to have those conversations right away.”
Congressional Democrats introduced legislation last week that would require the removal of critical US military assets and troops stationed in Saudi Arabia and the United Arab Emirates.
