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Biden’s Saudi Arabia Reversal Unlikely to Solve Oil Price Crisis

  • President plans to visit in July amid move to reconciliation
  • Kingdom and its allies have limited supplies to give: Yergin
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With Gas Prices at Record Highs, Biden Heads to Saudi Arabaia

President Joe Biden’s visit to oil-rich Saudi Arabia might heal frayed US ties with the kingdom, but it’s unlikely to resolve the energy crisis plaguing the global economy.

Biden is planning to meet Crown Prince Mohammed bin Salman as the market havoc and rampant inflation unleashed by Russia’s invasion of Ukraine force reconciliation with a country he once condemned as a “pariah.” In a symbol of goodwill, Riyadh and the alliance of producers it leads agreed earlier this month to pump a little extra crude -- and consumer nations are hoping more will follow.