Intel: Republicans dial up pressure on Saudis to end oil price war with Russia
Republicans are throwing their weight behind the Donald Trump administration’s push to get Saudi Arabia to end its oil price war with Russia, which has increasingly squeezed American energy companies as the coronavirus runs rampant throughout the United States.
Republicans are throwing their weight behind the Donald Trump administration’s push to get Saudi Arabia to end its oil price war with Russia, which has increasingly squeezed American energy companies as the coronavirus runs rampant throughout the United States.
The top Republican on the House Foreign Affairs Committee, Rep. Mike McCaul of Texas, penned a letter to Undersecretary of State for Energy Keith Krach encouraging him to keep up pressure on Riyadh to scale back its oil output.
“I commend [Secretary of State Mike Pompeo] for emphasizing the need for global economic stability on his recent call with Saudi Crown Prince Mohammed bin Salman Al Saud, and I encourage you to keep up this pressure until we see changes,” wrote McCaul. “The Trump administration stood in solidarity with Saudi Arabia amid Iran’s attack on Saudi oil facilities last September, which was a deliberate attempt to disrupt the global economy. I ask that you remind Saudi Arabia of that support as they consider next steps for OPEC and for the Group of 20, which it currently chairs.”
Why it matters: President Trump participated in a Saudi-chaired G-20 teleconference today. Prior to the meeting, Pompeo pushed Crown Prince Mohammed on the oil price war Tuesday.
