Eurasia Daily published an article about indications that Riyadh is preparing to deal a painful blow to the US administration.

The article stated: OPEC+ is considering reducing oil production by an additional million barrels, amid anger over the war in Gaza. I talked about Zero Hedge.

In mid-week, JP Morgan's director of energy strategy, Christian Malek, warned that the oil market was not prepared, against the backdrop of the recent decline in crude prices, for the possibility of deeper supply cuts during the OPEC+ meeting on November 26.

Such an action would further undermine relations between the United States and Saudi Arabia. Congress threatens to pass NOPEC bill with antitrust measures against the cartel. Rather, Riyadh is now subject to US sanctions in the chip sector, due to close cooperation with China and Russia.

Saudi Arabia is practically considering the possibility of switching to Chinese and Russian weapons instead of American weapons. Riyadh sharply reduced its investments in US Treasury bonds, which exacerbated the US debt crisis. The Saudis are ready to trade oil in the yuan and dismantle the petrodollar system. The Abraham Accords with Israel have become in vain.

The current signs of reducing oil production constitute pressure on the White House to quickly reach a truce in Gaza. There is some progress towards this, as it is possible to exchange prisoners and declare a humanitarian truce in the war. But if negotiations fail, the consequences for the United States could be very serious.

According to American affairs researcher Malik Dudakov, “America is still suffering from pro-Palestinian protests. Biden’s position is weaker than ever. He is accused in Congress of allowing all of the United States’ adversaries to unite. If the fuel crisis erupts now, this threatens to bring the American economy into crisis” and deep recession, and ultimately sinking a Biden presidency.”

(TRT Arabic)