Saudis Say Oil Decisions Are for OPEC+ as Biden Leaves Kingdom

Biden says he expects more steps on supply in coming weeks
OPEC+ has already moved to crank up production increases

WATCH: Saudi Arabia is insisting that any decision to pump more oil must be made by OPEC and its partners, and not unilaterally. Source: Bloomberg

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By Salma El Wardany, Annmarie Hordern, and Matthew Martin

July 16, 2022 at 2:49 PM UTC

Updated on

July 16, 2022 at 5:05 PM UTC

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Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom.

Biden said late Friday that the Saudis shared his “urgency” to increase oil supply and he expects “further steps in the coming weeks” to that end.