Biden’s Groveling Backfires: Price of Oil Rises after He Fails to Secure Saudi Arabia Output Increase

Democrat President Joe Biden’s recent trip, to ask the “pariahs” in Saudi Arabia to help tackle America’s energy crisis, has backfired as the price of oil increased.

Last week, Biden visited the Middle East to ask foreign nations for help as the United States struggles with skyrocketing energy costs.

The trip has been controversial, however, with many on both sides of the aisle asking why Biden is seeking to make America dependent on foreign nations for energy rather than tapping domestic resources.

During his trip, Biden provoked a widespread backlash after greeting Saudi Crown Prince Mohammed bin Salman with a fist-bump.

Now it appears as though the trip was a wasted effort as oil prices continue to surge this week.

According to The New York Post: “The price of oil surged to more than $100 a barrel on Monday after President Joe Biden left Saudi Arabia over the weekend without winning a commitment from the kingdom to boost output.

“Brent crude, the international benchmark, rose by nearly 2.5% to around $103.50 in the early morning hours of Monday while West Texas Intermediate, the US benchmark, also spiked nearly 2% to more than $99 a barrel.

“The prices shot up on Monday following comments by Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, who said that the topic of OPEC+ boosting oil supply wasn’t even raised during a summit meeting between Biden and other Arab leaders.”

According to Oilprice:

“Two years ago, President Biden described Saudi Arabia as a ‘pariah’ state and criticized it for its track record of abuses of human rights.

“During meetings in Saudi Arabia and on the sidelines of an Arab summit in Jeddah over the past week, President Biden failed to secure firm pledges from the Saudis, Iraq, or the UAE—the largest producers in OPEC—for an imminent supply increase.

“Instead, the White House issued vague statements about market stability.

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“At the end of the summit of the United States and the Gulf Cooperation Council (GCC) countries. te White House said,

“The leaders recognized ongoing efforts of OPEC+ towards stabilizing the global oil market in the interests of consumers, producers, and supporting economic growth.

“They welcomed the recent announcement by OPEC+ members to increase supply over the course of July and August, and commended the Kingdom of Saudi Arabia’s leading role in achieving consensus between the members of OPEC+.”

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By David Hawkins

David Hawkins is a writer who specializes in political commentary and world affairs. He's been writing professionally since 2014.

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