Saudis say US sought 1 month delay of OPEC+ production cuts
Saudi Arabia said 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. Such a delay could have helped reduce the risk of a spike in gas prices ahead of the US midterm elections next month.
A statement issued by the Saudi Foreign Ministry didn’t specifically mention the Nov. 8 elections in which US President Joe Biden is trying to maintain his narrow Democratic majority in Congress. However, it stated that the US “suggested” the cuts be delayed by a month. In the end, OPEC announced the cuts at its Oct. 5 meeting in Vienna.
