Saudi Arabia has announced that they will raise the prices of their crude for the Asian market awaiting the meeting with Biden to see how much they will raise the prices for the American market.
• The US buys around 10% of its oil from Saudi Arabia.
As Biden attempts to meet with the Saudi Crown Prince Mohammed bin Salman, Saudi Arabia Raises Oil Prices to historic highs.
1/🧵— Gent (@GentGoldstein) June 6, 2022
– Saudi Oil will be going up to $2.10 a barrel in July for its Asian market.
– If Biden doesn't negotiate with MBS the price per barrel can potentially hit $150 a barrel for the American Market.
-If Biden's meeting with MBS goes wrong gas could hit $10.
3/🧵— Gent (@GentGoldstein) June 6, 2022
– OPEC+ in June Agreed to pump and produce more oil.
– OPEC+ said it would add 648,000 barrels a day.
– As many countries find it difficult to pump more after Russia was cut off from many countries due to their invasion, UAE and Saudi Arabia have vowed to pick up the slack
5/🧵— Gent (@GentGoldstein) June 6, 2022
– to persuade the Saudis to not raise the price of their crude for the American market.
THIS IS A DEVELOPING STORY.
7/🧵— Gent (@GentGoldstein) June 6, 2022
ALERT
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