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 ...
SA plans to import more oil from Russia for SA’s domestic power production. This will allow SA to export more of their own oil (which otherwise would have been used for this domestic power production).
It’s a zero sum game for global oil supply.
The net effect is that Russia will now have a guaranteed outlet for their oil, all because Biden went and talked with MbS.
Biden ends visit with no oil deal?
https://justthenews.com/politics-policy/biden-ends-saudi-arabia-visit-no-oil-deal
Thanks grampa joe. You’re as smooth as a chain around somebody’s head. Will hunter be in charge of coordinating the production run up? 🕋⛽
That would not surprise me one bit. They recognize an easy mark when they see it, and they see Biden is uber vulnerable over oil prices. I don’t know if there are any pipelines through which Russian or Azerbaijani oil can be shipped to KSA (why would there be?) but they’ll transfer oil by ship if necessary and grab a $20 a barrel margin if it makes Joey feel good.
It's a promise that I trust as much as what this guy says:
Notice they said global, not US
I was waiting for that shoe to drop.
They will buy Russian oil and sell it to us at a mark-up.
The title: “...White House Says”
I hear there’s oil up in Alaska. HUGE reserves. Enough to make the US energy independent. Anyone know what’s up with that? 🙄
That’s because the Saudis will kick back 10% to Biden.
“The title: “...White House Says””
LOL. So it’s just more propaganda regurgitated by Fox.
“Sure, Jan”
***************************************************
That response is definitely called for. The INCREASE in Saudi production previously planned for July and August was likely INSIGNIFICANT. Increasing INSIGNIFICANT by 50% yields a result that is STILL INSIGNIFICANT. The doofus Biden crowd got played IMHO.🤣🤣
We’ll see if gas prices go significantly lower here, but in any case it’s really a dishonest maneuver because Russia has been selling oil to the Saudis.
I'll wait for a reputable news source to report this.
The oil will be Russian oil that the Saudi’s bought and sell to us for a profit.
If Biden has his paws in the mix, there’s a huge problem
with it.
As a general principle...
“The White House on Friday said Saudi Arabia has committed to increasing oil production in July and August”
Did Biden drop to both knees or just one?
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