Saudi Arabia says US sought 1 month delay of OPEC+ production cuts

Saudi Arabia said Thursday that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies including Russia to cut oil production by a month.

Such a delay could have helped reduce the risk of a spike in gas prices ahead of the U.S. midterm elections next month.

A statement issued by the Saudi Foreign Ministry didn’t specifically mention the Nov. 8 elections in which U.S. President Joe Biden is trying to maintain his narrow Democratic majority in Congress.

However, it stated that the U.S. suggested the cuts be delayed by a month. In the end, OPEC announced the cuts at its Oct. 5 meeting in Vienna.