Saudi Arabia Mulls Pumping More Oil to Offset Lost Russian Production

Saudi Arabia is considering pumping more oil than planned to offset a drop in Russian crude production, a move the kingdom would tie to greater security guarantees from the US, Persian Gulf officials familiar with the discussions said.

The move would mark a significant shift for the Saudis, who have defied calls from the US, Britain and other Western countries to pump more oil to curb a price boom following Russia’s invasion of Ukraine. The discussions come after a flurry of diplomacy between Washington and Riyadh that has seen senior US officials travel to Saudi Arabia in recent weeks to negotiate a deal, officials familiar with the discussions said.

https://www.wsj.com/articles/saudi-arabia-mulls-pumping-more-oil-to-offset-lost-russian-production-11654167323 Saudi Arabia Mulls Pumping More Oil to Offset Lost Russian Production

Alley Einstein

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