Posted on 07/15/2022 7:30:56 PM PDT by ding_dong_daddy_from_dumas
The White House on Friday said Saudi Arabia has committed to increasing oil production in July and August—a move that will help "stabilize markets considerably."
The commitment from Saudi Arabia came after bilateral meetings between President Biden and administration officials and King Salman bin Abdulaziz al Said and Crown Prince Mohammed bin Salman, as well as Saudi Ministers.
"Saudi Arabia has committed to support global oil market balancing for sustained economic growth," the White House said. "We have welcomed the increase in production levels 50 percent above what was planned for July and August."
"These steps and further steps that we anticipate over the coming weeks have and will help stabilize markets considerably," the White House said.
(Excerpt) Read more at foxnews.com ...
They’re worried Trump will be back and drive the price back down to $30 or less
Thank goodness Monica left some old kneepads for Joe Biden to use. “Boy, I tell you it’s harder gettin’ up off my knees than when I was begging Soros to let me win the rigged election for him. Oops. Off my teleprompter again.”
I don’t want to go back to buying oil from countries that hate us. I want to go back to Trump, when the US was an oil exporter.
The Saudis are making a killing off of Biden and his energy policies. Biden will want his cut.
Biden kills the Keystone Pipeline, and 10,000 U.S. and Canadian jobs, and then goes groveling to the Muslims to increase production. It’s ok for the Saudis to profit from oil, but not U.S. companies and workers.
So is that a promise to increase a planned increase by 50%?
They’re just agreeing to put out a BS story. The production capacity of KSA and the Emiratis is known. They are at or very near it, and every oil industry newsletter or source I have read says so. You will of course hear this story many, many times as it will tend to paint Biden as a hero, our savior. What you will NOT hear is HOW MUCH more the Saudis will pump. 5-25K barrels a day is yes, MORE. And let’s be clear, there may indeed be an effect on the market price of /CL. But they have zero ability to pump meaningfully more oil than they do right now today.
Biden wants to choke US oil production, but needs some oil to come to market before the Fall Election so ‘Rats don’t get so killed.
They are buying Russia’s oil to resell, bit increasing domestic production
More then likely, they will be selling Russian oil at a huge profit.
“Biden kills the Keystone Pipeline, and 10,000 U.S. and Canadian jobs, and then goes groveling to the Muslims to increase production. It’s ok for the Saudis to profit from oil, but not U.S. companies and workers.”
This ^^^^^
Oh boy! $4.95 a gallon instead of 5.25.
It's just media optics that Brandon's news-stooges can regurgitate back to the folks at home, huddled around their TeeVees, waiting breathlessly for the latest word from The White Basement.
Most of those slaves to the Talking Box are innumerate, so they won't be able to figure it out.
Meanwhile, nothing will change.
Oil is now up 2%. Just right now.
Leave it to joe.
I read they are buying Russian oil so they can export theirs. Buy cheap and sell to us at a large profit.
That it must be it. Plus “the big guy” likely has his cut too.
How much cash will Ol’ Joe be sending to these guys?
Therefore sanctions are not working against Russia.
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