Biden "to re-evaluate" U.S.-Saudi relationship after OPEC oil cut

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https://www.axios.com/2022/10/11/biden-us-saudi-arabia-relations-opec-cut

Axios

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Foreign Policy
Headline Roundup
Biden to ‘Re-evaluate’ US-Saudi Relations After OPEC+ Oil Cuts
Tags
Foreign Policy
Joe Biden
Defense And Security
National Security Council
Saudi Arabia
World
OPEC
Oil
Gas Prices
Inflation
Energy
US Congress
Type of Content
News
Approved Story
1
Format
Article
Region
National
News Item Format
Standard
Image Caption
Royal Court of Saudi Arabia/Anadolu Agency via Getty Images

President Biden will "continue to re-evaluate" the U.S.' relationship with Saudi Arabia after a group of international oil exporters and Russia decided to significantly cut oil production in response to falling fuel prices, National Security Council spokesperson John Kirby told CNN on Tuesday.

Driving the news: The White House warned last week that Biden may support legislation aimed at reducing OPEC’s control over energy prices, suggesting Biden is considering a new, escalatory approach with the Saudis, Axios' Alayna Treene and Hans Nichols report.

Kirby reiterated this warning Tuesday, stressing that Biden is "willing" to work with Congress to redefine relations.

Why it matters: OPEC+'s decision to slash oil production by 2 million barrels per day starting in November could have a ripple effect around the world. In the US, the move could increase the price of gas again — right before the midterm elections, Axios' Ben Geman reports.