Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Beirut: The Syrian delegation's visit to Beirut, which was scheduled for Thursday, has been postponed until next week
Palestinian Ministry of Health in Gaza: The total number of Palestinians killed due to famine and malnutrition has risen to 313, including 119 children
Ministry of Health in the Gaza Strip: 10 people, including two children, have died of starvation in the past 24 hours
Al Mayadeen's correspondent in South Lebanon: US envoy Tom Barrack cancels his visit to Tyre and al-Khiam amid popular protests
Al Mayadeen's correspondent in Lebanon: Israeli occupation forces carried out an explosion in the southern border town of Kfar Kila
Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.

Politico: Biden's visit to KSA will not bring gas prices down

  • By Al Mayadeen English
  • Source: Agencies
  • 12 Jul 2022 10:44
4 Min Read

According to a US analyst, even if Saudi Arabia were to flood the market with more oil, there is no guarantee that gas prices will come down

  • x
  • The administration of President Joe Biden has said his visit to Saudi Arabia does not represent a shift in his principles [File: Fahad Shadeed/Reuters]Biden arrives at Riyadh airbase in Riyadh, October 27, 2011. (Reuters)

Later this week, Biden will be visiting Saudi Arabia on a quest for more oil production and cementing a normalization agreement with "Israel". Many are asking what this could mean for gas prices, which have been on a hike in the US.

Saudi Arabia has the second-largest oil reserves in the world, and Biden has been demanding a boost in output - more output, cheaper gas, right? Not so much. 

An article written in Politico argues that it's more complicated than it seems.

Saudi Arabia does not have much oil to give and is in fact struggling to meet its own production targets. If Riyadh were to release more oil, it would require them to forge a consensus among OPEC+.

“There's no way of visiting Saudi Arabia without it being in some sort of relationship to oil,” said Paul Sankey, lead analyst at Sankey Research, a research firm. “But in this instance, it's not obvious that there's anything that can be done.”

According to Ben Cahill from the Center for Strategic and International Studies, even if Saudi Arabia were to flood the market with more oil, there is no guarantee that gas prices will come down. The volatility in oil prices over the past few weeks, according to him, does not have much to do with supply disruptions, but rather the uncertainty of the war in Ukraine. 

“A lot of the price run-up is due to geopolitics and financial speculation,” Cahill said. “If you look at the physical market, the actual demand and trading of the physical barrels of crude, there's really no disruption anywhere.”

In this case, why would Biden visit with these givens?

Last month, he told reporters that he won't be asking Saudi leaders directly to increase oil production, downplaying that his trip is meant to bring down fuel prices.

Related News

Trump 50% tariffs on Indian exports take effect, straining trade ties

Ukraine sees record 110,000+ AWOL cases in 2025, highest since 2022

Cahill said the president has only a few available options, and asking OPEC for assistance is one of them. Although the visit won't have an impact, dialogue between the US and KSA is "constructive and it should be welcomed,” he said.

However, the visit is more involved in regional security than oil production.

Read next: Biden: Israeli security part of the reason for KSA trip

With Biden's deeming Saudi Arabia a "pariah" state, while also blaming the Saudi de facto ruler Crown Prince Mohammed bin Salman as the murderer of The Washington Post columnist Jamal Khashoggi, Biden swallowed his pride, and defended the trip as necessary for US security interests.

In light of the sanctions on Russia, the region is “essential to global trade and the supply chains we rely on," Biden said.

Read more: Biden warms up to Riyadh, considers canceling arms sales restrictions

Netanyahu highly values MBS role in signing 'Abraham Accords'

Yesterday, Israeli media relayed the appreciation of the leader of the Israeli opposition, Benjamin Netanyahu, to Saudi Crown Prince Mohammad bin Salman, for his contribution to the completion of the four so-called "Abraham Accords".

Netanyahu said that in case he assumes leadership once again, then he intends to achieve full "peace agreements" with Saudi Arabia, as well as with other Arab states.

The former Israeli Prime Minister's statement comes ahead of an upcoming Biden visit to the Middle East, during which he will meet with Palestinian and Israeli occupation officials.

According to Israeli media, Biden plans to meet with Netanyahu during his upcoming visit to "Israel".

This is the first time in which an Israeli official openly highlights bin Salman's clear contribution to the signing of the normalization agreements with the Israeli occupation.

  • Russia
  • Israel
  • Sanctions on Russia
  • Mohammed Bin Salman
  • Joe Biden
  • Saudi Arabia

Most Read

Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Launch of a ballistic missile from Yemen toward the occupied Palestinian territories. (YAF military media)

Yemeni Forces announce firing hypersonic missile at Al-Lydd Airport

  • Politics
  • 22 Aug 2025
The ‘Arab Façade’ for Israeli occupation in Gaza

The ‘Arab Façade’ for Israeli occupation in Gaza

  • Opinion
  • 23 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A scene showing an al-Qassam Brigades fighter during an ambush on July 7, 2025, in a video released by the al-Qassam Brigades on August 26, 2025 (al-Qassam Brigades Military Media)
Politics

Al-Qassam reveals Beit Hanoun ambush targeting Israeli forces

A Palestinian youth stands on a hill overlooking IsraelI Ofer Prison, near the West Bank city of Ramallah, Wednesday, July 3, 2024. (AP)
Politics

77 Palestinian prisoners killed in Israeli prisons since October 7

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during a joint press conference with US deputy special envoy for Middle East peace Morgan Ortagus at the presidential palace in Baabda, Lebanon, Tuesday, August 26, 2025 (AP)
Politics

US envoy Barrack calls Lebanese journalists 'animalistic"'

Tom Barrack's imperial tantrum in Beirut: When entitlement speaks (Photo by Mahdi Rtail)
Politics

Tom Barrack's imperial tantrum in Beirut: When entitlement speaks

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS