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Riyadh’s energy minister says Opec+ supply cuts were needed to provide future production buffer
Rebuke came after Riyadh released a detailed defence of moves saying they were unrelated to Ukraine war
Paris-based agency says higher crude prices would increase energy security risks worldwide
Kingdom dismisses Washington’s claims that supply reductions were politically motivated
US president vows to re-evaluate relations with Riyadh after Opec move threatens price surge
Biden to re-evaluate relationship after Riyadh gambled on antagonising western ally in order to pursue its own agenda
Output reduction by oil cartel has inflamed tensions between Washington and Riyadh
Plus, the White House contemplates a ban on fuel exports
Sheikh Mohammed’s visit follows Opec’s oil output cut last week
Biden administration faces policy bind as it tries to meet climate targets while bringing down petrol prices
US Treasury secretary criticises allies for being slow to send financial aid to Ukraine
Saudi Arabia and Russia’s agreement to cut oil production in defiance of Washington may upend the global energy order
The two autocrats’ actions are a twin salvo against the Biden administration ahead of the US’s midterm elections
White House considers more sales from strategic reserve and refuses to rule out fuel export limits
Ill-judged Opec+ output cuts could backfire on the Saudi-led cartel
Plus, Biden’s green energy legislation faces backlash from foreign carmakers
Miami tops FT-Nikkei ranking of best US cities for foreign businesses
Aggressive move to raise crude prices puts Saudi Arabia on collision course with US and closer to Russia
Oil production cuts prompt backlash from Washington amid soaring energy inflation
Riyadh and Moscow seek reductions that would push prices higher at crucial Opec+ meeting
Head of world’s biggest producer says ‘world should be worried’ about supply limitations
Big cuts are on the table at tomorrow’s Opec+ meeting, those familiar with the discussions say
The real test of the cartel’s consensus has yet to happen
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