Thursday, June 26, 2025
No Result
View All Result
newshub
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
No Result
View All Result
newshub
No Result
View All Result
ADVERTISEMENT

Biden escalates feud with Saudi Arabia: “cutting oil production in coordination with Russia”

2022/10/12/19:50 - Updated on 2022/10/21/18:17
in Financial insights, US politics
Reading Time: 3 mins read
240 12
A A
Biden escalates feud with Saudi Arabia: “cutting oil production in coordination with Russia”
MSTRpay MSTRpay MSTRpay
ADVERTISEMENT

Biden made a nonspecific threat to Saudi Arabia after its decision to cut oil output.

The call, which will drive up prices, was made as part of the OPEC+ grouping including Russia.

The White House has framed the move as the Saudis siding with Russia against Ukraine.

President Joe Biden said Saudi Arabia will face “consequences” for cutting oil its production targets, something that he said benefits Russia. 

 The OPEC+ group of oil-producing nations said last week that it would cut oil production by two million barrels a day, a move which enraged the White House, which has been struggling to tame inflation and decrease gas prices.

The OPEC+ group includes Saudi Arabia and Russia — the two biggest oil producers after the US itself — as well as numerous other oil-producing countries.

Reducing supply tends to force prices higher because there is less to go around.

Biden spoke warned Saudi Arabia in an interview with CNN on Tuesday: “There’s going to be some consequences for what they’ve done, with Russia.”

“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 already had a fraught relationship with Saudi Arabia.

The two nations’ long alliance has been increasingly fractious in recent years. Issues include Saudi human-rights abuses — particularly the killing of Jamal Khashoggi — US support for a nuclear deal with Iran, and Biden’s initial hostility to Crown Prince Mohammed bin Salman, which was partially rowed back in a recent visit.

An increase in oil prices benefits Russia at a time when the US and Western nations are trying to punish the country for its invasion of Ukraine.

White House spokesperson Karine Jean-Pierre responded to the news of the cuts last week by saying it was “clear” that OPEC+ was “aligning with Russia”.

US officials warned Saudi Arabia that it would be seen as taking Russia’s side if OPEC+ cut its production, but Saudi Arabia dismissed the warnings and proceeded, The Wall Street Journal reported.

Russia on Sunday praised OPEC+ for cutting its oil production targets.

Saudi Arabia’s foreign minister said on Tuesday that the OPEC+ decision was taken only for economic reasons, Reuters reported.

Biden’s hardened stance on Saudi Arabia is a big shift from his repeated engagement with the Kingdom and Crown Prince Mohammed bin Salman.

Some Democratic lawmakers said the OPEC+ decision shows that the US needs to reconsider its relationship with Saudi Arabia, which receives extensive military assistance from the US.

John Kirby, the spokesman for Biden’s national security council, said on Tuesday that Biden was willing to start re-evaluating that relationship immediately.

Source: Insider

Related Posts

Shell to become Europe’s largest renewable gas producer
Europe

Caution dominates as European markets open lower

by newshub
7 hours ago

European markets opened Thursday in cautious mood, with major indices edging lower amid persistent geopolitical tensions and renewed uncertainty around...

Read moreDetails
Trump lashes out after Iran strike leak undermines White House narrative

Trump lashes out after Iran strike leak undermines White House narrative

11 hours ago
Asia stocks mixed as soaring dollar pauses

Asia rallies as yen slides and investors eye key inflation data

11 hours ago
Stocks tumble after inflation stays hotter than expected

Markets edge higher as tech leads in London and Wall Street opens flat

1 day ago
‘On to victory’: Zohran Mamdani defeats Andrew Cuomo in shock New York primary upset

‘On to victory’: Zohran Mamdani defeats Andrew Cuomo in shock New York primary upset

1 day ago
Asian stocks down after Big Tech pulls S&P 500 and Nasdaq lower

Asian markets edge higher amid tech rebound and cautious global outlook

1 day ago
No Result
View All Result

Recent Posts

  • Millions of UK buildings unfit for climate crisis, report warns
  • Caution dominates as European markets open lower
  • How to use ChatGPT to build your crypto strategy and decode market signals
  • Trump lashes out after Iran strike leak undermines White House narrative
  • UK asylum plan signals ‘a very dark place’, says Albanian prime minister

Recent Comments

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Recent Posts

    • Millions of UK buildings unfit for climate crisis, report warns
    • Caution dominates as European markets open lower
    • How to use ChatGPT to build your crypto strategy and decode market signals
    • Trump lashes out after Iran strike leak undermines White House narrative
    • UK asylum plan signals ‘a very dark place’, says Albanian prime minister

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    newshub

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure

    • Global news
    • Financial insights
    • Fin & tech
    • Climate & energy
    • Lifestyle
    • WEX

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Global news
    • Financial insights
      • Africa
      • Asia
      • Australia
      • Central Banks
      • China
      • Commodities
      • Europe
      • Banking
      • Corporate
      • Neobanking
      • Investment
      • Japan
      • South East Asia
      • Stock of the week
      • UK
      • US
    • Fin & tech
      • AI
      • Blockchain
      • Crypto
      • MSTRpay
      • Tech
    • Climate & energy
      • Climate
      • Carbon
      • Coal
      • Disruptive
      • Gas
      • Nuclear
      • Oil
      • Solar
      • Water
      • Waves
      • Wind
      • Renewable
      • South America
    • Lifestyle
      • Best chefs
      • Cocktail of the week
      • History
      • Influential women
    • WEX
      • Alt Kap Holding AB
      • Digital Network Holding, Inc.
      • Fantas-E AB
      • International Clean Energy Inc.
      • Intritum Partner Limited
      • Intritum Recycling GH Limited
      • MSTRpay AB
      • SWAP Services, Inc.
      • VMT Holding, Inc.
      • Universal Streaming Technologies – USTA
      • TC Unterhaltungselektronik AG

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure