WASHINGTON—Major crude oil producers have spare capacity and are likely to boost supplies following President Joe Biden’s visit to the Middle East, a senior U.S. energy envoy said on Sunday. Speaking on CBS’ “Face the Nation,” Amos Hochstein, senior U.S. State Department adviser for energy security, said: “Based on what we heard on the trip,…
Top US Energy Envoy Expects Further Steps From OPEC Producers on Supplies
July 18, 2022
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Oil Jumps After Biden Fails to Win Saudi Pledge to Pump More Crude
July 18, 2022
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Oil prices rose on July 18 as the U.S. dollar softened and after President Joe Biden wrapped up his trip to Saudi Arabia, failing to secure a pledge from the Middle Eastern country to boost crude output. Brent crude futures for September settlement rose $2.42, or 2.4 percent, to $103.58 a barrel by 5:30 a.m….
UAE Sentences Former Khashoggi Lawyer to 3 Years in Prison
DUBAI, United Arab Emirates—The United Arab Emirates has sentenced an American citizen and the former lawyer of Jamal Khashoggi—the dissident Saudi journalist who was killed at Saudi Arabia’s consulate in Istanbul in 2018—to three years in prison on charges of money laundering and tax evasion. The lawyer, U.S. citizen Asim Ghafoor, was also ordered to…
Gaza Rockets, Israeli Air Strikes Accompany Biden’s Middle East Visit
The Israeli military attacked what it said was a Hamas military site in the Gaza Strip early Saturday in response to a pair of rocket attacks overnight, hours after U.S. President Joe Biden flew from Israel to Saudi Arabia on a Middle East trip. The Israeli military said its fighter jets struck hit two facilities belonging…
Saudi Crown Prince Says Unrealistic Energy Policies Will Lead to Higher Inflation
July 16, 2022
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JEDDAH, Saudi Arabia—Saudi Arabia’s Crown Prince Mohammed bin Salman said on Saturday more investment was needed in fossil fuel and clean energy technologies to meet global demand, and that unrealistic emission policies would lead to unprecedented levels of inflation. The prince said Saudi Arabia had announced raising its production capacity to 13 million barrels per…
Biden Meets With Arab Gulf Countries to Counter Iran Threat
JEDDAH, Saudi Arabia—President Joe Biden, speaking at a summit of Arab leaders, said Saturday that the United States “will not walk away” from the Middle East as he tries to ensure stability in a volatile corner of the globe and boost the worldwide flow of oil to reverse rising gas prices. His remarks, delivered at…
Biden Meets With Arab Gulf Countries; Saudi Arabia Says Cannot Greatly Increase Oil Production
JEDDAH, Saudi Arabia—President Joe Biden, speaking at a summit of Arab leaders, said Saturday that the United States “will not walk away” from the Middle East as he tries to ensure stability in a volatile part of the world and boost the global flow of oil to reverse rising gas prices. His remarks, delivered at…
Capitol Report (July 15): Officials: Border Crisis Constitutes Invasion; Getting Out of Inflation Spiral
July 15, 2022
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On Capitol Hill, House Democrats passed a bill to expand abortion access and make Roe v. Wade the law of the land. Republicans are pushing back. Will there be enough support to get this through in the Senate? With President Joe Biden overseas hoping to get the Saudis to produce more oil, inflation still rages…
Biden Meets With Saudi Arabia’s Crown Prince Amid ‘Energy Security’ Concerns
President Joe Biden arrived in Saudi Arabia on Friday and gave Crown Prince Mohammed bin Salman a fist bump and shook hands with King Salman, coming after then-candidate Biden pledged to make the kingdom a “pariah” on the world stage. White House press secretary Karine Jean-Pierre told reporters Friday that the flight “follows the monumental decision to…
Biden Welcomes Saudi Arabia Opening Airspace to Israel
President Joe Biden has welcomed Saudi Arabia opening its airspace to all air carriers, including flights to and from Israel, marking an end to a ban on flights from the latter and a step toward normalizing relations between the two countries. Biden is set to visit Saudi Arabia on Friday where he will meet with King Salman and…
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