The Saudis and their allies are opening the door to cutting oil production to keep prices high

RIYADH, Saudi Arabia — Saudi Arabia and some of its oil-producing allies have suggested cutting crude production, disappointing U.S. officials who predicted the kingdom would play a key role in cooling the market after the president’s meeting Biden with Crown Prince Mohammad bin Salman for the first time in office.

The Organization of the Petroleum Exporting Countries led by Saudi Arabia and a coalition of producers led by Russia, collectively known as OPEC+, agreed to a lower-than-expected production increase earlier this month. of August.


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