OPEC+’s announcement of a 2-million-barrels-a-day cut in production starting next month has set the proverbial feline among all manner of Washington fowl. Republican hawks are blaming President Joe Biden for failing to prevent the cut, while Democratic doves are calling for retaliation against the oil cartel.
The Biden administration, professing to be shocked — shocked, I tell you! — has warned of repercussions, especially against Saudi Arabia. Its de facto ruler, Crown Prince Mohamed bin Salman, is thought to be the prime mover of the production cut, along with Russian President Vladimir Putin.