Saudi Arabia says US sought a month delay of OPEC+ oil cut decision

Saudi Arabia said on Thursday that the US had urged the kingdom to postpone a decision by OPEC and its allies including Russia to cut oil production by a month which would have been just before the upcoming American midterm elections.

A statement issued by the Saudi Foreign Ministry didn’t specifically mention the elections, crucial to US President Joe Biden maintaining his Democratic Party’s narrow majorities in Congress.

However, it stated that the US suggested the cuts be delayed by a month as opposed to being implemented at OPEC’s October 5 meeting in Vienna.