US President Joe Biden on Wednesday warned of consequences against Saudi Arabia after the Riyadh-led OPEC+, a global cartel of oil-producing countries, announced plans to cut oil production.
Speaking to reporters at the White House, Biden said, “We’re going to react to Saudi Arabia, and they’re (Congress) doing consultation when they come back. And we will take action.”
In an interview with CNN, Biden used even harsher words for Saudi Arabia as he said, “There’s going to be some consequences for what they’ve done with Russia.”
America thinks that the decision to cut oil production by a Saudi-led cartel is designed to help oil exporters such as Russia.
Biden added, “I’m not going to get into what I’d consider and what I have in mind. But there will be, there will be consequences.”
Russia is facing isolation from the global fraternity for its decision to attack Ukraine. However, not all countries have agreed to toe the American or British line to not purchase oil from Russia.
Last week, the OPEC+ group had announced its decision to cut down oil production targets by two million barrels a day. This had caused retail prices to move in upward directions once again. The move was also seen brazen defiance of the US pressure. Saudia Arabia, in its defence had clarified that the move aimed at stablising the oil market and not shoot up the prices.