Biden's White House Fuming Over OPEC+ Production Cut Move

On Wednesday, the White House said that President Joe Biden would continue to direct releases from the US Strategic Petroleum Reserve if necessary, in response to an OPEC+ decision. Washington added that POTUS also urged Congress to find the ways to increase US energy production and reduce OPEC's control over global oil prices.

Washington and its supporters have lashed out at a decision by the OPEC+ to slash output by 2 million barrels per day, the largest such reduction since the 2020 cut.

White House spokeswoman Karin Jean-Pierre said on Wednesday that “it’s clear that OPEC+ is aligning with Russia with today’s announcement.”

Referring to Moscow’s ongoing special operation in Ukraine, US National Security Adviser Jake Sullivan and Director of the National Economic Council Brian Deese for their part said that President Joe Biden was “disappointed by the [OPEC+] shortsighted decision […] while the global economy is dealing with the continued negative impact of [Russian President Vladimir] Putin’s invasion of Ukraine.”

The remarks came as Democratic senator Chris Murphy said in an interview with CNBC that he thinks “it is a mistake on their [the oil cartel] part” and that “it’s time for a wholesale re-revaluation of the US alliance with Saudi Arabia."

New Jersey Democratic Congressman Tom Malinowski in turn accused Riyadh of “using its control of oil markets to tank” the US economy and “help” Washington’s “enemies”.

“Our message to MBS should be: “If you want to side with Putin, then ask Putin to defend you. And good luck with that,” Malinowski tweeted in a nod to Crown Prince of Saudi Arabia Mohammed bin Salman.

Saudi Energy Minister Prince Abdulaziz bin Salman rejected the White House allegations that Riyadh was colluding with Russia, and denied that the OPEC+ move on production cuts was an act of aggression. “Show me where is the act of belligerence,” he said.

The minister was echoed by OPEC Secretary-General Hatiham Al Ghais, who stressed that his organization is “not endangering the energy markets” and that the oil cartel is “providing security,[and] stability to energy markets.”

In July 2021, Biden wrapped up his visit to Saudi Arabia without clinching any deal with Riyadh to raise oil supply, something that prompted an increase in global oil prices.

The US president has repeatedly blamed Russian President Vladimir Putin and his decision to launch a special operation in Ukraine for sending international oil prices and inflation soaring, despite the fact that US inflation rates started to surge in November 2021, well before the beginning of Russia’s special op.

OPEC+ is a group of 24 oil-producing nations, made up of the 14 members of the Organization of Petroleum Exporting Countries (OPEC) and 10 other non-OPEC members, including Russia.

While OPEC is nominally led by Saudi Arabia, the group’s largest oil producer, Russia is seen as the biggest player among the non-OPEC countries.