March 14, 2022
1 min read

White Houses faces standoff with Saudi, UAE as oil prices soar

With the most serious oil shock in decades now a reality, US President Joe Biden’s attempt to cushion the blowback continues to meet resistance from the two allies he needs the most, the Guardian reported…reports Asian Lite News

Saudi Arabia’s Crown prince Mohammed bin Salman, and his counterpart in the United Arab Emirates (UAE), Mohammed bin Zayed, are yet to agree to a phone call with Biden – a scenario all but unthinkable during previous administrations.

Biden’s immediate priority is for both countries to help exert maximum economic pressure on Russia by cranking up their oil output.

Each capital is a major supplier of oil, with excess capacity, which would soften the effect on US consumers through fuel prices before midterm elections in November that threaten Democratic control of Congress.

With relations between the Middle East oil powers and Washington at their lowest ebb in modern times, though, a reckoning is due that may realign the regional order on terms that favour Riyadh and Abu Dhabi.

Both leaders have made it clear that they will settle for nothing less, and are ready to extract their price, the Guardian reported.

As if to show the Biden administration what it could do, the UAE ambassador to Washington, Yousef al-Otaiba, said on March 10 that it favoured production increases “and will be encouraging Opec to consider higher production levels”, leading oil prices to fall by 13 per cent the next day.

ALSO READ: UAE, Saudi decline to take calls from White House on oil prices

But no action to increase supply followed and by the week’s end the price per barrel was back up to almost $130, an uncomfortably high level for Biden to take to the midterms.

However, the standoff involves far more than oil.

In Riyadh, Prince Mohammed feels snubbed by Biden’s refusal to engage with him ever since he took office.

The murder of the Saudi dissident Jamal Khashoggi by the Crown Prince’s security aides, the war on Yemen, the jailing of rights activists and the boycott of Qatar have made him a pariah to the administration, the Guardian reported.

Previous Story

Kerala govt vows support for Ukraine returned students

Next Story

Iran’s economic benefits must be ensured in Vienna nuke talks: Spokesman

Latest from Arab News

Khamenei meets top Hamas leaders in Tehran  

The Hamas delegation included acting Hamas leader Khalil al-Hayya; Mohammad Darwish, head of Hamas’ leadership council; and Nizar Awadallah   Days after US President Donald Trump announced his intention to occupy the Gaza

‘Ozoum’ shines light on social change 

A groundbreaking Saudi television series is offering an unprecedented glimpse into the Kingdom’s social transformation, captivating domestic audiences and challenging long-standing perceptions, writes Pedro Carvalho  A groundbreaking television series is offering unprecedented

Starmer pledges to rebuild Gaza

Prime Minister reaffirms his commitment to a long-term two-state solution, insisting that Palestinians must be allowed to return following the ceasefire agreement, writes Zahra Jawad. Keir Starmer’s pledge to support the return

Trump Targets ICC with New Order

Trump signed the measure as Israeli Prime Minister Benjamin Netanyahu was visiting Washington…reports Asian Lite News President Donald Trump has signed an executive order sanctioning the International Criminal Court (ICC), accusing it
Go toTop

Don't Miss

UAE Prez pardons 855 prisoners ahead of Eid

The gesture is part of His Highness Sheikh Khalifa’s humanitarian

Biden Outpaces Trump and Republican Primary in Fundraising

Campaign co-chair Jeffrey Katzenberg told CNN on Sunday that the