Conflicting news from the Saudi-American oil deal

According to IRNA, political experts predicted that an increase in Saudi oil production and a subsequent decrease in the price of gasoline would be on the agenda of Biden’s trip to Jeddah, considering the mid-term elections of the American Congress and the undeniable contribution of fuel prices to the level of satisfaction of American voters.

However, Jake Sullivan’s comments last night (July 24) indicated Washington’s desperation in persuading its Arab partner.

Before the start of his president’s press conference, Sullivan told reporters that the United States does not expect Saudi Arabia to immediately increase its oil production and is waiting for the outcome of the next OPEC+ meeting on August 3 (August 12).

Saudi Foreign Minister Adel Al-Jubeir also told the English newspaper Financial Times yesterday: Oil is not a political weapon. It is not a tank that we aim at someone and shoot. Oil is a commodity.

According to this Saudi official, Riyadh will increase its production several times based on demand and will continue to evaluate it.

He added: If we see a shortage of oil, more oil will be produced.

However, the White House has another claim based on the results of the meeting between American and Saudi officials, which shows that Riyadh will increase oil production in July and August by 50%.

The document published on the White House website states: Saudi Arabia is committed to supporting the balance of the global oil market for sustainable economic growth. America has welcomed the 50% increase in production over the projected levels of July and August. These steps and the next steps in the coming weeks have helped and will contribute to the remarkable stability of the markets.