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The Biden administration reportedly pressured Saudi Arabia on Wednesday to get OPEC+ to postpone for a month the announcement of its two million barrels per day oil cut

Payam Javan: The Biden administration reportedly pressured Saudi Arabia on Wednesday to get OPEC+ to postpone for a month the announcement of its two million barrels per day oil cut.

Since OPEC+ made its announcement on October 5, delaying the news by a month would have put it after weeks of early voting in many states and right before next month’s midterm elections. In a statement released Wednesday night, the Saudi Foreign Ministry stated that the output cut by OPEC+ was not “politically motivated against” the United States.

Instead, the cartel decided against delaying the announcement because of the “negative economic consequences” that would have resulted for OPEC+ after “continuous consultation with the U.S. administration.”

The statement from the ministry corroborated a Wall Street Journal report from Tuesday that claimed the Biden administration had attempted to postpone the announcement until right before the midterm elections.

The United States produced 11.8 million barrels per day in July, the most recent data available, according to the Energy Information Administration. This is less than the nation’s highest output, which was about 13 million barrels per day in November 2019 under the Trump administration.

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