Biden to Ask Gulf Countries to Increase Oil Production

On Wednesday, US President Joe Biden announced that he will ask the state members of the Gulf such as Saudi Arabia, and UAE for increasing their production of oil to solve the issue of the increasing prices of oil due to the Ukrainian-Russian War.

He said during NATO Summit: “All the Gulf states are meeting. I have indicated to them that I thought they should be increasing production,” adding: “I hope we see them, in their own interest, concluding that makes sense to do.”

It is worthy to mention French President Emmanuel Macron said that the UAE and KSA will slightly increase their oil as they are the only two OPEC countries that can deliver the required global demands of oil since the beginning of the Russian-Ukrainian war, Reuters reported on Tuesday.

Macron told US President Joe Biden during their meeting on the sidelines of the G7 Summit: “I had a call with Mohamed bin Zayed al-Nahyan,” adding: “He told me two things. I’m at a maximum, maximum (production capacity). This is what he claims.”

“And then he said (the) Saudis can increase by 150 (thousands of barrels per day). Maybe a little bit more, but they don’t have huge capacities before six months’ time.”

The statements of Macron came after the announcement made by Energy Minister Suhail bin Mohammed Al Mazroui of the UAE’s production of oil reached near its climax by 3.168 million barrels per day.