Saudis Sought Much Deeper Cut in Oil Production

“The Saudi-led oil cartel OPEC+’s announcement earlier this month that it was cutting 2 million barrels of oil per day — a move that would drive up the price of oil just a month before midterm elections — rankled Democrats in Washington,” The Intercept reports.

“They accused Riyadh of aligning itself with Russia, another powerful member of OPEC+, which would indeed profit off the move.”

“But Saudi Arabia actually pushed to cut oil production twice as much as Russian President Vladimir Putin, surprising the Russians… suggesting that Riyadh’s motives run deeper than what top Democrats want to admit.”