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Oil: Can Saudi Arabia cure Biden's problems?

Record inflation and the upcoming mid-term elections in the US have forced US President Joe Biden to mend ties with Saudi Arabia. The US has tried many tricks to lower crude oil prices but has failed to pull a rabbit out of the hat.

June 29, 2022 / 10:08 AM IST
Oil: Can Saudi Arabia cure Biden's problems?

US President Joe Biden

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Saudi Arabia said to have spare capacity of 2 Mbpd Crude oil price up 18 percent since the start of the Ukraine-Russia war India now importing 20 percent oil from Russia Oil market estimated to remain in deficit this year Greek historian Thucydides, also known as the father of political realism, once said: “The longer a war lasts, the more things tend to depend on accidents. Neither you nor we can see into them: We have to abide their outcome in the dark.” This quote perfectly...

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