Rep. Tom Tiffany, a Republican from Wisconsin, has requested that House Speaker Nancy Pelosi hold hearings regarding the Biden administration’s proposal that Saudi Arabia postpones a reduction in oil production until after the midterm elections.
The Saudi administration stated that the U.S. has asked for the two million barrels per day oil production cut to be postponed for one month in order to avoid a spike in gas prices in the weeks leading up to the November midterm elections.
In a statement released on Thursday, the Saudis, who head the OPEC+ oil cartel, said: “The government of the kingdom clarified through its ongoing consultation with the US administration that all economic analysis indicates that delaying the OPEC+ decision by a month, as has been suggested, would have had negative economic consequences.”
Republican senators expressed their worries about the remark right away, believing that the Biden administration was considering the political fallout from such a move.
