Biden and Saudi crown prince planning to meet later this month
Source: CNN
(CNN) President Joe Biden and Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, are planning to meet later this month after two key deals were reached on Thursday following months of diplomatic heavy lifting by the US. In a surprise announcement on Thursday, OPEC and allied oil-producing nations revealed that they plan to increase oil production by 200,000 barrels per day in July and August, leading to praise from the White House for Saudi Arabia's role in "achieving consensus" and facilitating the boost.
While a small amount in the grand scheme of things, the move is being viewed by Biden administration officials as a significant breakthrough in the diplomatic relationship. One official described it as a "huge shift" after nearly a year of the Saudis flatly refusing US requests to increase production, even when oil prices were at record highs last year. Biden separately announced on Thursday that a truce in Yemen had been extended, similarly heaping praise on the Saudis for demonstrating "courageous leadership by taking initiatives early on to endorse and implement terms of the UN-led truce."
The timing of the announcements is deliberate, the official said, and is laying the groundwork for a likely meeting this month between Biden and bin Salman. As CNN has previously reported, because Saudi Arabia currently holds the presidency of the Gulf Cooperation Council, any engagement between Biden and the crown prince would likely coincide with a meeting of the council in Riyadh later this month. A separate White House official told CNN that a meeting is not yet finalized but that if the President "determines that it's in the interests of the United States to engage with a foreign leader and that such an engagement can deliver results, then he'll do so."
A former senior intelligence official with knowledge of the planning told CNN that all sides are "still working" to finalize the meeting "but things are working out." "But any decisions on the trip will be determined in part with the security and logistics requirement that go with a presidential trip," the former official added. A meeting between American and Saudi leaders would have once been considered routine but now marks a significant shift due to the recent strain in the relationship. Biden has not engaged directly with bin Salman, considered the day-to-day ruler of Saudi Arabia, since taking office, opting instead to speak directly with the crown prince's father, King Salman, the ailing 86-year old monarch.
Read more: https://www.cnn.com/2022/06/02/politics/mohammed-bin-salman-joe-biden-meeting/index.html
Someone was working behind the scenes doing sumpin'.
Lovie777
(12,278 posts)BumRushDaShow
(129,111 posts)He was on the Senate Foreign Relations Committee for 33 years (and served as Chair during the latter part of that time before being tapped to be VP). He knows that family all the way back to the '70s.
OnDoutside
(19,962 posts)videohead5
(2,178 posts)This is about oil and OPEC can ramp up oil production in a few days. President Biden is trying to keep us out of a recession.
OnDoutside
(19,962 posts)I understand what you are saying but I feel that there's a touch of jumping from the frying pan to the fire
videohead5
(2,178 posts)It's going to take time to get off of fossil fuels but in the short run we need more oil.
OnDoutside
(19,962 posts)videohead5
(2,178 posts)If President Biden can get OPEC to produce more oil, gas prices will come down and help. The world needs probably 5 to 10 million more barrels a day to lower oil and gas prices.
OnDoutside
(19,962 posts)but his time will come too. Right now, beating Putin is all that matters.
Evolve Dammit
(16,743 posts)Magoo48
(4,716 posts)Evolve Dammit
(16,743 posts)oldsoftie
(12,558 posts)Beginning in July.
LONG overdue.
BumRushDaShow
(129,111 posts)but if the "lack of supply" talking point as the supposed reason for the price gouging, can be removed before the election, then so be it.
oldsoftie
(12,558 posts)"OPEC+ will increase production by 648,000 barrels per day in both July and August."
In a normal world, oil futures would respond positively tomorrow. I wonder.
BumRushDaShow
(129,111 posts)The estimates of the supposed removal of Russian oil on the market (other than expected sales to China) is completely leaving out India, which has suddenly more than quadrupled its purchases of what is now cheap Russian oil (last I saw, it was selling for something like $45/bbl) after India barely used them as a source previously. I had posted that LBN here - https://www.democraticunderground.com/10142923926
Previously -
oldsoftie
(12,558 posts)I know there are many small countries who have passed up on joining in the fight against russia, but India has the size to make an impact.
Marcuse
(7,488 posts)LittleGirl
(8,287 posts)Martin68
(22,822 posts)in order to soundly defeat Putin.
867-5309.
(1,189 posts)I get there's some optics to having the president visit, but how tangible is the value? I assume increasing production will adversely affect their bottom line.
Calista241
(5,586 posts)the Saudis have been courting the Chinese. The Chinese are more than happy to provide weapons, buy oil, and be their new best friend. The Saudi's are close to a deal accepting the Yuan as payment for oil, which is a mid / long term direct threat to the supremacy of the dollar in the world economy.
OnDoutside
(19,962 posts)US by the short and curlies. That Biden is even contemplating traveling to see him just shows how desperately they need Saudi Arabia to increase the oil supply. However I fear we will get that infamous Trump Mittens dinner of 2016.
Red Mountain
(1,735 posts)maybe he'll bring a peace offering. A video of Jared begging for cash, for instance. No doubt he has one.
If he's talking to the Chinese wellllll......good luck and good riddance. We're going to be done with them as soon as they start replacing American weapons and advisors with Chinese ones.
And that won't turn out well for bin Salman.
Takket
(21,578 posts)MBS is going to try to shake down Biden for lower oil prices. but he needs us more than we need him. Biden won't fall for it
BumRushDaShow
(129,111 posts)as Biden has known him for years (before MBS was even born). MBS is younger than Biden's kids.
He had connected with Salman just a few months ago - https://www.whitehouse.gov/briefing-room/statements-releases/2022/02/09/readout-of-president-joseph-r-biden-jr-s-call-with-king-salman-bin-abdulaziz-al-saud-of-saudi-arabia/
February 09, 2022 Statements and Releases
President Joseph R. Biden, Jr. spoke today with King Salman bin Abdulaziz al-Saud of Saudi Arabia to discuss regional developments and issues of mutual concern, including Iranian-enabled attacks by the Houthis against civilian targets in Saudi Arabia. The President underscored the U.S. commitment to support Saudi Arabia in the defense of its people and territory from these attacks and full support for UN-led efforts to end the war in Yemen. The President noted his commitment to ensuring that Iran can never obtain a nuclear weapon and briefed the King on ongoing multilateral talks to reestablish constraints on Irans nuclear program. The two leaders discussed matters pertaining to the Middle East region and Europe and agreed that their teams would remain closely coordinated over the coming weeks and months. Both leaders further reiterated the United States and Saudi Arabias commitment to ensuring the stability of global energy supplies.
###
Any meeting with MBS would probably be because MBS was designated as the day-to-day "operational manager" of stuff going on there but I expect that "dad" is still in charge.
OnDoutside
(19,962 posts)increase the oil supply, to lower pump prices definitely but to give the EU an alternate supply. As it is the EU have kicked the can down the road by banning Russki oil at the end of the year.
muriel_volestrangler
(101,322 posts)Biden is still expected to travel later this month to Germany and Spain for the G7 and NATO summits respectively.
Officials determined that two separate trips -- one to Europe and one to the Middle East -- would allow for more time to plan and set a schedule and agenda.
...
"We are pleased that President Biden is taking a step back and evaluating his priorities for this Saudi trip," Terry Strada, the group's [9/11 Families United] national chair, said in a statement. "The September 11th community looks forward to his engagement with us."
https://edition.cnn.com/2022/06/04/politics/biden-mohammed-bin-salman-saudi-meeting/index.html