White House cops to pushing Saudi Arabia to postpone oil cuts until after midterms

WASHINGTON – The Biden administration admitted Thursday it had asked Saudi Arabia to delay the OPEC+ vote to cut oil production until the cartel’s next meeting – after the midterm elections. “We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed,” National Security Council spokesman John Kirby said in a statement.-- More...