{"id":637,"date":"2023-09-07T01:07:22","date_gmt":"2023-09-07T01:07:22","guid":{"rendered":"https:\/\/watanserb.com\/en\/?p=637"},"modified":"2023-09-07T01:07:22","modified_gmt":"2023-09-07T01:07:22","slug":"mohammed-bin-salman-faces-biden-administration-post-oil-production-cut-decision","status":"publish","type":"post","link":"https:\/\/www.watanserb.com\/en\/2023\/09\/07\/mohammed-bin-salman-faces-biden-administration-post-oil-production-cut-decision\/","title":{"rendered":"Mohammed bin Salman Faces Biden Administration Post Oil Production Cut Decision"},"content":{"rendered":"<p>The &#8220;Financial Times&#8221; newspaper has raised questions about the potential escalation of tensions between Saudi Crown Prince Mohammed bin Salman and the Biden administration following the decision to extend oil production cuts. The paper pointed to the decision by Saudi Arabia and Russia to voluntarily extend production and export cuts until the end of the current year. This move led to oil prices rising to over $90 per barrel for the first time in 2023.<\/p>\n<p>The recent announcement implies that Saudi Arabia&#8217;s oil production is likely to remain at 9 million barrels per day until the end of December, 25% less than its maximum capacity of 12 million barrels per day. The report by the &#8220;Financial Times&#8221; states that Saudi Arabia, leading the OPEC+ group along with Russia, has removed an additional one million barrels per day from the global market since July, initially described as a temporary measure.<\/p>\n<figure id=\"attachment_639\" aria-describedby=\"caption-attachment-639\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-639\" src=\"https:\/\/watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023.jpeg\" alt=\"Saudi Arabia and Russia decide to extend voluntary oil production cut until end of 2023\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023.jpeg 1280w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023-300x169.jpeg 300w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023-1024x576.jpeg 1024w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023-768x432.jpeg 768w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023-696x392.jpeg 696w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Saudi-Arabia-and-Russia-decide-to-extend-voluntary-oil-production-cut-until-end-of-2023-1068x601.jpeg 1068w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-639\" class=\"wp-caption-text\">Saudi Arabia and Russia decide to extend voluntary oil production cut until end of 2023<\/figcaption><\/figure>\n<p>Russia has also voluntarily reduced exports in recent months and is committed to reducing exports by 300,000 barrels per day until the end of the year. This move threatens to exacerbate global inflation concerns. The decision has made efforts by two of the world&#8217;s largest oil producers to boost prices, even as most countries grapple with rising energy costs.<\/p>\n<p>The report suggests that this could strain relations with the White House, which has criticized Saudi Arabia&#8217;s close cooperation with Russia, especially after Moscow&#8217;s extensive invasion of Ukraine and its use of natural gas supplies as a weapon against Europe.<\/p>\n<figure id=\"attachment_640\" aria-describedby=\"caption-attachment-640\" style=\"width: 1440px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-640\" src=\"https:\/\/watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman.webp\" alt=\"Decision to extend production and export cuts raises fears of possible tensions between Biden and son Salman\" width=\"1440\" height=\"810\" srcset=\"https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman.webp 1440w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman-300x169.webp 300w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman-1024x576.webp 1024w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman-768x432.webp 768w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman-696x392.webp 696w, https:\/\/www.watanserb.com\/en\/wp-content\/uploads\/2023\/09\/Decision-to-extend-production-and-export-cuts-raises-fears-of-possible-tensions-between-Biden-and-son-Salman-1068x601.webp 1068w\" sizes=\"(max-width: 1440px) 100vw, 1440px\" \/><figcaption id=\"caption-attachment-640\" class=\"wp-caption-text\">Decision to extend production and export cuts raises fears of possible tensions between Biden and son Salman<\/figcaption><\/figure>\n<p>The Biden administration, keen to keep fuel station prices under control ahead of next year&#8217;s presidential elections, has found inflation and fuel costs to be primary targets of Republican attacks. The report also highlighted the Crown Prince&#8217;s desire to raise oil prices to fund his economic reform program and shed light on the role of Prince Abdulaziz bin Salman, the Saudi Energy Minister, who has implemented a more stringent Saudi oil policy, despite U.S. pressures to increase production to help alleviate inflation.<\/p>\n<h5><strong>You might like:<\/strong><\/h5>\n<h5><strong><a class=\"LinkSuggestion__Link-sc-1gewdgc-4 cLBplk\" href=\"https:\/\/watanserb.com\/en\/2023\/09\/04\/saudi-arabia-prepares-for-largest-public-share-offering-in-history-aramcos-surprise\/\" target=\"_blank\" rel=\"noopener\">Saudi Arabia Prepares for Largest Public Share Offering in History: Aramco&#8217;s Surprise<\/a><\/strong><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>The &#8220;Financial Times&#8221; newspaper has raised questions about the potential escalation of tensions between Saudi Crown Prince Mohammed bin Salman and the Biden administration following the decision to extend oil production cuts. The paper pointed to the decision by Saudi Arabia and Russia to voluntarily extend production and export cuts until the end of the &hellip;<\/p>\n","protected":false},"author":4,"featured_media":638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[140,45,141],"class_list":["post-637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reports","tag-biden-administration","tag-mohammed-bin-salman","tag-oil-production"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mohammed bin Salman Faces Biden Administration Post Oil Production Cut Decision - Watan<\/title>\n<meta name=\"description\" content=\"The decision by Saudi Arabia and Russia to extend oil production cuts has led to rising global oil prices and potential tensions 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