Connect with us

Hi, what are you looking for?

TOP news

Saudi Arabia agrees to boost oil production after Joe Biden visits kingdom, report says

US President Joe Biden meets Saudi Crown Prince Mohammed bin Salman on Friday.

Bandar Algaloud/Reuters

    • Saudi Arabia will increase oil production to 13 million barrels a day, 24Live reported. 
    • Saudi Crown Prince Mohammed bin Salman called for greater co-operation with the US.
    • Biden had previously pledged to make Saudi Arabia a “pariah state” over the murder of a journalist.

Saudi Arabia has agreed to boost oil production following President Joe Biden’s meeting with the Saudi Crown Prince, according to a report by a Saudi news site.

24Live tweeted that Saudi Crown Prince Mohammed bin Salman had agreed to boost production by about 4 million barrels a day to 13 million barrels during a speech at the opening of a summit with Arab leaders.

The announcement came as bin Salman called for a closer strategic relationship between its Western allies and the US. 

Biden is visiting Saudi Arabia to try to improve relations with the kingdom, having previously pledged to make the country a “pariah state” for its alleged involvement in the 2018 murder of journalist Jamal Khashoggi. The President said he reiterated that assertion to bin Salman after he denied personal responsibility for the killing.

Saudi Arabia’s importance as an energy producer has risen following Russia’s invasion of Ukraine that has sent oil prices soaring. 

The Middle Eastern nation is the top exporter of oil to the US, accounting for 5% of petroleum imports and 6% of its crude imports.

According to Opec, Saudi Arabia produced around 9 million barrels of oil a day in 2021. It and other nations in the oil cartel cut production when the pandemic struck and demand plunged, agreeing to gradually increase production over several months to regulate prices.

Oil spiked above $120 a barrel after Russia invaded Ukraine, but have fallen back to trade below $100.

Click to comment

Leave a Reply

Your email address will not be published.


You May Also Like


Adeline van Houtte is the Economist Intelligence Unit’s lead analyst on Russia. It looks like Russia is at it again, after the unusual movement...

Health Care

Former President Donald Trump confirmed he had gotten a booster during a live show with Bill O’Reilly in Dallas on Sunday.

TOP news

US Navy aircraft carrier USS Carl Vinson leads other US Navy ships during an exercise with the Indian navy in 2012. US Navy Photo...

TOP news

Medical imaging service in a hospital in Savoie, France. A technician monitors a brain MRI scan session. BSIP/Universal Images Group via Getty Images A...