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: 35 martyrs, 75 injured in occupation targeting of civilians seeking food aid in Rafah, Khan Younis, southern Gaza.
Da Silva: What is happening in Gaza is not a war, it is a genocide
Da Silva: Even the Jewish people do not want this war; it is revenge by a government against the possibility of establishing a Palestinian state
Brazilian President Lula da Silva: What we are seeing is not a war between two armies. [What we have is a] completely professional army that is killing women and children in the Gaza Strip.
Hamas: We affirm our readiness to immediately begin a round of indirect negotiations to reach an agreement on the points of contention
Hamas: We welcome the continued Qatari and Egyptian efforts to end the war waged by the Zionist occupation against our people
Al Mayadeen's correspondent: Israeli occupation forces blew up Noura Al-Kaabi Hospital, designated for kidney dialysis patients, in the northern Gaza Strip
Al Mayadeen's correspondent: Israeli drone targets a car on the Ayta al-Shaab-Debel road in southern Lebanon
Yemeni Armed Forces Spokesperson Yahya Saree: The remaining airlines that have not yet complied with the ban are urged to take this into serious consideration to ensure the safety of their aircraft and passengers
Yemeni Armed Forces Spokesperson Yahya Saree: The YAF, after successfully imposing a partial ban on air traffic at Lydd Airport, are now working to impose a full ban on air traffic at the aforementioned airport in the coming period

US may be looking to punish OPEC

  • By Al Mayadeen English
  • Source: Oilprice.com
  • 18 May 2023 16:19
  • 2 Shares
5 Min Read

The US House of Representatives may be considering using legislation to pressure OPEC to end production cuts.

  • x
  • US may be looking to punish OPEC
    US President Joe Biden and Saudi Crown Prince Mohammed bin Salman attend an Arab summit, in Jeddah, Saudi Arabia, July 16, 202. (Reuters)

According to James Durso of Oil Price, in early May, the United States House of Representatives Judiciary Committee was reportedly considering a bill to put pressure on the OPEC oil producers' group to stop cutting output by revoking the sovereign immunity that had protected OPEC+ members and their national oil companies from price collusion lawsuits. (The measure was previously approved by the committee in 2018, 2019, and 2021.)

The OPEC Basket Price has been hovering around the mid-$70s, which is not historically high, though American politicians want to talk down gasoline prices before the summer driving season begins. (Saudi Arabia needs a price of $80.90 USD to balance its budget and finance economic diversification.)

Although gasoline prices are greater than they were under Trump. Gallup polling reported in April 2023 that “Americans show significantly less concern about the U.S. energy situation now than they did a year ago.”

If Americans are not outraged about gas prices, that could mean the US is reacting to a rapprochement between Iran and Saudi Arabia (mediated by China); Egypt and Iran beginning to normalize relations (mediated by Iraq); Syria rejoining the Arab League; the UAE and Iran in talks to strengthen ties; and the possibility of energy cooperation between Iraq and Iran.

In addition to a punishment for Arab OPEC members, the bill may be a message to others, for repairing relations with Iran and Syria under the guise of safeguarding American consumers. It also avoids a mention of the Biden administration's strategy of limiting oil and gas output, despite the fact that the government has recently permitted limited drilling on federal lands.

Related News

Emirates Airlines set to restart flights to Damascus in mid-July

Saudi, Qatar to provide joint financial aid to Syria’s public sector

A bipartisan group of US congressmen has launched the "Assad Regime Anti-Normalization Act of 2023," which would challenge international governments' outreach to Syria and allow for extra penalties against anybody doing business with the Assad regime. 

Durso believes this means that "Israel" and the US would be the losers in the deal. Israelis since they are unlikely to be able to rely on Arab support for an attack on Iran's nuclear research facilities, and the United States, which is losing influence as OPEC members in the Middle East begin to normalize relations with the governments in Tehran and Damascus, and OPEC welcomes China's mediation of talks between Tehran and Riyadh, as well as Russia's facilitation of talks between Saudi Arabia and Syria, and Syria and Turkey. (The worst-case scenario for "Tel Aviv" and Washington is Chinese engagement in Israeli-Palestinian talks.)

Normalization of ties between Arab OPEC states, Iran, and Syria would reduce tensions in the region, which is not in Washington's interests because large clients like the Saudis and Emiratis would reduce purchases of anti-Iran weaponry. Tensions also keep the US active in the vicinity in order to "ensure stability," despite the fact that US activities in Iraq and Libya (and its supporting role in Yemen) ensured the reverse. And the region's tension makes it simple for "Israel's" 'Shabbos goy' in the US to scupper any efforts to persuade "Israel" and the Palestinians to start peace negotiations "or else," especially if the Palestinians welcome the Chinese into the process. 

According to the 2022 Arab Youth Survey, The 2022 Arab Youth Survey also found, “Nearly three-fourths (73%) want to see the US disengage from the region. China, Turkey, and Russia are now seen as the region’s strongest allies” and “the default position of looking to the West in times of crisis is being eroded by new allegiances to China, Russia, and Turkey.” 

This view may lead to other Arab powers, such as Saudi Arabia, declining to join American schemes like the normalization Accords, which "Israel" still thinks will be a detour around peace talks with the Palestinians, and instead favoring local measures to stabilize the area.

Thus, Washington's attack on the Middle East's economic engine, petroleum, and the use of sanctions to thwart efforts to reduce conflict and estrangement between OPEC Arabs, Iran, and Syria. Peace is critical because it would cut weapon sales, promote regional economic diversity and integration, and diminish the need for Washington's "solutions," as well as introduce new economic and political actors to the area, like China and Turkey. 

Washington has a lot of power and can push events in the near term, but it has already lost the hearts and minds of Middle Eastern young who have grown up with the US constantly involved in war operations in their country since 2001 - all for nothing.

  • Syria
  • OPEC
  • Iraq
  • Oil Production
  • House of Representatives
  • Iran
  • OPEC+
  • United States

Most Read

President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
Russia-Ukraine peace talks resume in Istanbul amid escalating war
Europe

Ukraine, Russia head for Istanbul talks as battles rage, cmdr. resigns

Australia urged to join Macron-led push for Palestinian statehood
Asia Pacific

Australia urged to join Macron-led push for Palestinian statehood

‘Israel’ lost international legitimacy for war on Gaza: Israeli media
Palestine

‘Israel’ lost 'international legitimacy' for Gaza war: Israeli media

MSF Chief: US-Israeli aid plan in Gaza ‘Dehumanising’
Politics

US-Israeli aid plan in Gaza used as tool for forced displacement: MSF

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