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Report: Russia, Saudi Arabia Snub Biden; Refuse To Increase Oil Production

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OPINION: This article contains commentary which reflects the author's opinion


Joe Biden has taken many steps to hurt America’s energy production.

In a matter of months, Biden banned drilling for oil and gas on federal land, canceled the Keystone XL pipeline, and greenlit Russian’s pipeline.

After thwarting America’s ability to be independent and drill for its own oil and gas, Biden is now begging for Russia and Saudi Arabia to increase their own oil production.

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And he just got snubbed.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies are planning to reject a petition from the Biden administration to pump more oil into the world market.

OPEC+, a coalition of oil-rich countries led by Russia and Saudi Arabia, is snubbing Biden and saying they do not believe there’s a need to increase output.

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Reuters reported:

One of the four sources, speaking on condition of anonymity, told Reuters there was no need to release extra oil more quickly, while another said there was no concern that the planned schedule of increases would leave any demand unmet.

Two other OPEC+ sources said the latest data from OPEC and from the West’s energy watchdog – the International Energy Agency (IEA) – also indicated there was no need for extra oil.

Last week, White House National security advisor Jake Sullivan called on OPEC+ to increase its oil output to help drive down prices to help the global economy after largely being locked down for over a year during the pandemic.

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Sullivan said in a statement:

Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery. The price of crude oil has been higher than it was at the end of 2019, before the onset of the pandemic.

While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. At a critical moment in the global recovery, this is simply not enough.

“President Biden has made clear that he wants Americans to have access to affordable and reliable energy, including at the pump. Although we are not a party to OPEC, the United States will always speak to international partners regarding issues of significance that affect our national economic and security affairs, in public and private,” Sullivan added.

“We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. Competitive energy markets will ensure reliable and stable energy supplies, and OPEC+ must do more to support the recovery,” Sullivan concluded.

Quite amazing that the Biden administration is asking other countries to increase its oil and gas output while banning and killing entities in the United States that can pump out oil and gas.

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Gas prices in America have skyrocketed more than 40% since Biden took office in January.

That coupled with Biden’s policies creating historic levels of inflation are resulting in average Americans facing pay increases across the board, ranging from at gas stations to items they buy at grocery stores.

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