Page 49 - Pec News Today

US President Joe Biden had said earlier this week that 'there will be consequences' for relations with the Kingdom, following the producer group's recent move

A day after President Biden said Saudi Arabia would face consequences for the OPEC+ decision, Saudi Arabia announced its total rejection of the statement

Another expert quoted expressed MBS’ desire to “make a Carter out of Biden,” in the way that Jimmy Carter was defeated for re-election in 1980 amid the Iran hostage crisis.

Congressional Democrats are introducing legislation to suspend US arms sales to Saudi Arabia after the kingdom sided with Russia to cut oil production at last week's OPEC+ meeting. The White House says President Joe Biden is open to working closely with Congress to "recalibrate" ties with Riyadh. VOA's Senior Diplomatic Correspondent Cindy Saine reports.

The OPEC+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volatility, the Saudi foreign ministry said in a statement on Thursday.

Saudi Arabia rejects framing Opec+ decision as political; Says it told US a delay would be economically negative; Decision was based on market balance, curbing volat...

LONDON: A decision by the Opec+ oil producers’ group last week to cut output has driven up prices and could push the global economy into recession, the International Energy Agency warned on Thursday.

IEA’s stern caution comes on the heels of a chilling forecast by the International Monetary Fund of higher recession risk amid bleak global outlook

The Democratic chairman of the U.S. Senate Foreign Relations Committee, Senator Bob Menendez, has called for a freeze of U.S. cooperation with Saudi Arabia, including most arms sales

The Democratic chairman of the U.S. Senate Foreign Relations Committee, Senator Bob Menendez, has called for a freeze of U.S. cooperation with Saudi Arabia, including most arms sales