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Free AccessWH On OPEC+ Decision: There Will Be Consequences For Saudi Arabia
White House Press Secretary Karine Jean-Pierre has told reporters that President Biden will conduct a review into the US-Saudi bilateral relationship following the OPEC+ decision to cut oil production.
- Jean-Pierre: "The President was asked this before we took off and last night [in an interview on CNN]. As he said last night, when the House and the Senate get back we'll discuss and make decisions in a deliberate way."
- "[Biden] was very clear, there will be consequences. We believe the decision that OPEC+ made last week was a mistake, and it was short-sighted. From the beginning the President has talked about recalibrating, readjusting our relationship with Saudi Arabia and now we'll get into a process where we'll review that."
- Jean-Pierre says that the White House will be watching closely over the coming weeks and months to see what will happen with the OPEC+ decision. She says there will be consultations with allies and Congress. "We want to be very deliberate about this and its going to take some time."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.