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Biden unlikely to secure lower oil prices from Saudi Arabia

The Star Business LogoThe Star Business1 mo ago

Biden unlikely to secure lower oil prices from Saudi Arabia

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President Joe Biden has called on Saudi Arabia and other Gulf producers to increase their oil output to help stabilise prices, which have surged as a result of a strong rebound in consumption after the pandemic and now sanctions on Russia.

If the Biden administration hopes its diplomatic activity in the Middle East will result in a substantial increase in production and lower prices, it is likely to be disappointed.

Involving Russia and other major non-OPEC producers in output limits has been a cornerstone of the kingdom's strategy since the 1990s.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: /Business/Business News Biden Capacity Aramco Production Oil Energy Saudi

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 23:41:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 4 minutes read

Article Length: 664 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 25423

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 36 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 10h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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