OPEC+ Oil Production Slash Exposes Limits of Biden’s Pressure on MBS, Putin

The decision made by Russia, Saudi Arabia and other nations that make up the world’s oil cartel and its partners to significantly slash production will likely produce effects felt across the globe the globe — including in the U.S., where President Joe Biden has appealed to Riyadh and other oil-rich Arab states for greater output while at the same time maintaining economic pressure on Moscow over its war in Ukraine.

As the expanded format of the Organization of the Petroleum Exporting Countries (OPEC+) opted Wednesday to cut current baseline production by about 2 million barrels per day…

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