From WSJopinion: As diplomatic humiliations go, it’s hard to top the decision by Saudi Arabia and its OPEC+ allies to cut oil production by two million barrels a day despite U.S. entreaties.
Wonder Land: In a time of economic and security peril, the U.S. has forsaken pro-growth policies and national security for unrealistic climate change goals. Images: AP//The Washington Post via Getty Images Composite: Mark KellyAs diplomatic humiliations go, it’s hard to top Wednesday’s decision by Saudi Arabia and its OPEC+ allies to cut oil production by two million barrels a day despite U.S. entreaties and a looming global recession.
News broke over the weekend that OPEC and its allies, including Russia, were contemplating cutting their production targets by one million barrels a day at their meeting this week. They want higher prices, and the prospect that this means rising gasoline prices before the November election sent the White House into overdrive.
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Stocks waver as dollar eases, oil steadies on OPEC+ deal By ReutersStocks waver as dollar eases, oil steadies on OPEC+ deal
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US oil industry mocks Biden after OPEC+ announces production cutsThe U.S. Oil & Gas Association on Wednesday suggested that President Biden is now forced to turn to the U.S. oil industry after tapping out strategic reserves and OPEC+ cut production.
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OPEC+ Oil Production Slash Exposes Limits of Biden's Pressure on MBS, Putin'The alignment within OPEC+ is strong, politically and with regard to oil,' expert Abhi Rajendran told Newsweek. 'The U.S. was never going to crack that.'
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