Saudi says U.S. asked it to postpone oil supply cut by a month

Saudi says U.S. asked it to postpone oil supply cut by a month

Saudi Arabia has suggested the U.S. asked it to wait a month before it cut oil production, defending a move the White House has heavily criticized as helping Russia’s war in Ukraine.

Such a delay in the OPEC+ supply reduction could have staved off price rises at American pumps until after the midterm elections, although the Saudi Foreign Affairs Ministry did not specifically mention the midterms in its lengthy and abrupt statement late Wednesday.

Rising fuel costs are a key driver of inflation, which hit 8.2% in September and shows no sign of slowing down to remain top of mind for many Americans as Democrats hope to hold on to their slim majority in Congress.

The White House pushed back against any suggestion that it made a politically motivated request; National Security Council spokesperson Adrienne Watson said in a statement early Friday that it was “categorically false to connect this to U.S. elections.”

“It’s always been about the impact on the global economy and impact on families at home and around the world, especially as Putin wages his war against Ukraine,” she added, referring to Russian President Vladimir Putin.

It’s the latest exchange to punctuate a delicate relationship between Washington and Riyadh. President Joe Biden