Saudis side with Russia on Oil, Reject U.S. Requests to Pump More

[former9thward]

As Oil Nears $100, Saudis Snub U.S., Stick to Russian Pact Amid Ukraine Crisis

Rising oil prices and fears of a Russian invasion of Ukraine have created a dilemma for Saudi Arabia: Help the West by pumping more crude to tame the market, or stand by a five-year-old oil alliance that is helping Moscow at the expense of Washington.

For now, the world’s largest crude exporter is sticking with Russia.

President Biden has repeatedly called on Persian Gulf producers to pump more oil to reduce gasoline prices that, for Americans, are about twice as high as they were earlier in the pandemic. Those calls have grown more urgent as oil prices have risen toward $100 a barrel for the first time in nearly eight years, and threaten to go higher amid a Russian troop buildup along the Ukrainian border.

Instead, the Saudis have said they won’t pump more than they agreed to last year as part of a deal between the Organization of the Petroleum Exporting Countries and Russia, an alliance called OPEC+. That pact allows for production increases of 400,000 barrels a day each month, but it has done little to stem the rise in oil prices, and the Saudis have pumped less than their share, according to the International Energy Agency.

https://www.wsj.com/articles/as-oil-nears-100-saudis-snub-u-s-stick-to-russian-pact-amid-ukraine-crisis-11645015415

[kimbutgar]

1. TFG and his son in law have double crossed the US

[PoliticAverse]

2. Anyone other than Biden surprised? n/t

[Vinca]

3. What's good for the goose . . . cut off all military assistance to Saudi Arabia.

[kysrsoze]

6. Exactly. Time to warm to Iran.

[DFW]

8. That has been going on beind the scenes already

I have an Iranian friend who lives in Berlin. His family has a house on Kish, the Iranian Hong Kong (where Cheney had one all along, by the way), and he goes back regularly to visit his family. He said Iran will do business with ANYBODY except Israel. If we get desperate for oil, you can bet Iran will be supplying us with some--not directly, but the deal will be made, and kept. If it means irking the Saudis, the Iranians will be particularly willing to go along.

[PortTack]

10. Interesting..thx for posting!

[DFW]

15. My friend say neither side is interested in making a big deal out of it

After all, trade embargoes are supposedly in force all over the place with Iran. But they need to eat in Iran, too, after all, and fishing the Persian Gulf empty isn't going to fill many bellies.

Places like the USA would have their domestic politics in a frazzle if this were all over the headlines, so officially it isn't happening, except that yes, it is. Republicans are probably getting richer than Democrats are out of this deal, although they can't afford politically to be seen buying the Ayatollahs' oil directly. But they do. When Halliburton was getting the hell outta Dodge when the Cheney administration was ending, they sure as hell didn't leave Texas for Singapore, Taiwan or Panama. They went to Dubai, near where the oil is, and with quick and easy access to Kish. You could probably fly it in a Cessna in 45 minutes or less.

I suppose this was meant to be a big secret when Cheney was in power, but I don't think they are making a great effort to hide it at this point. Why should a resident of Dubai care? In the Middle East, I doubt people even call it an "open secret" any more--just open, just as long as no one makes any noise over it. Since there is money to be made and people to be fed, it would appear that no one does.

[PortTack]

21. +1000

[crickets]

12. Very interesting. nt

[Dan]

4. Yeah, we send troops to bleed and die for SA, .... There are no words.

[uponit7771]

5. +1, this is just plain greed with SA which is the main reason I think Putin is starting crap to get

... oil prices up.

[Dan]

7. You know, I hadn't thought of that. Thanks for sharing.

[roamer65]

9. Lift the sanctions on oil export from Iran in retribution.

Also, stop exporting our own oil.

[PortTack]

11. Oil produced here doesn't stay here. It goes onto the international market.

Increased production here would help thou

[CanonRay]

13. With "friends" like these...

Think of all the effort kissing Saudi ass by a long succession of Presidents.

[AntiFascist]

14. Authoritarians are sticking together, Saudis seemed to warm up to Trump n/t

[spanone]

16. Fuck the Saudis.

[Dirty Socialist]

17. I have an idea

Let’s find ALTERNATIVE energy sources, so we wouldn’t be dependent on foreign oil.
I’m insane, I know.

[ellie]

18. Fuck Saudi Arabia

[sarisataka]

19. So much for "everyone is against Russia"

Countries not directly involved may speak against aggression but will act in their own self interest.

For the Saudis, high oil prices =$$$$

[JI7]

20. This explains Putin's comment about how Islam should not be criticized