U.S. Takes Aim at OPEC for Oil Production Cuts

New York Times: “President Biden faces a dicey choice following the decision by the world’s oil giants to slash production just weeks before critical midterm elections that could turn on the price of gasoline: Should he stick with his policy of wooing Saudi Arabia or take measures to retaliate?”

Wall Street Journal: “OPEC’s decision to slash oil production has the U.S. considering responses that could include measures aimed at breaking the cartel’s hold on markets or limiting U.S. oil exports should shortages emerge.”

Said Biden: “There are a lot of alternatives, and we haven’t made up our minds yet.”