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...
