US President Joe Biden promised “consequences” for Saudi Arabia after a Riyadh-led coalition of oil-producing nations sided with Russia to slash output.
The 13-nation OPEC cartel and its 10 allies headed by Moscow angered the White House last week with its decision to cut production by 2 million barrels a day from next month, raising fears that oil prices could soar.
“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,” Biden told CNN when asked about possible responses.
Photo: EPA-EFE
Biden did not reveal what options were being considered, but the White House had made clear earlier that he was reassessing ties between the allies.
“I think the president’s been very clear that this is a relationship that we need to continue to re-evaluate, that we need to be willing to revisit,” US National Security Council spokesman John Kirby told CNN. “Certainly in light of the OPEC decision, I think that’s where he is.”
The OPEC move was widely seen as a diplomatic slap in the face, as Biden traveled to Saudi Arabia in July and met with Saudi Arabian Crown Prince Mohammad bin Salman, despite vowing to make the kingdom an international “pariah” following the murder of journalist Jamal Khashoggi.
It also comes at a sensitive moment for Biden’s Democratic party, as it faces midterm elections next month with rising consumer prices a key talking point.
Saudi Arabia has defended the planned production cuts, saying the priority of OPEC+ was “to maintain a sustainable oil market.”
On Tuesday, Saudi Arabian Minister of Foreign Affairs Prince Faisal bin Farhan told al-Arabiya channel that the move “was purely economic and was taken unanimously by the [organization’s] member states.”
“OPEC+ members acted responsibly and took the appropriate decision,” he said.
Kirby said that Biden was “willing to work with [the US] Congress to think through what that relationship [with Saudi Arabia] ought to look like going forward,” although he clarified that no formal discussions had yet begun.
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