tradeXmena

tradeXmena

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      • Reduction in OPEC Plus oil production

      Biden’s visit was an attempt to smooth the strained relations between the two old partners. However, Saudi Arabia and OPEC+, led by Russia, decided to reduce their oil production by two million barrels per day.

      The OPEC+ decision has angered Washington, with both US officials and lawmakers looking for ways for Washington to dismantle the oil cartel or use leverage against Saudi Arabia to reverse the move.

      A group of lawmakers introduced legislation to stop all military support from Saudi Arabia as well as the United Arab Emirates.

      Senator Bob Menendez, chairman of the Senate Foreign Relations Committee, said: “The United States should immediately cease all aspects of its cooperation with Saudi Arabia.”

      Congressman Rowe Khanna said in October: “Let’s use our leverage against them, we need to get tough on them and immediately stop US arms sales to Saudi Arabia.”

      However, the anger has not led to any concrete action since then, and with U.S. gas prices falling significantly, officials have said unease over the OPEC+ decision has subsided.

      Saudi Arabia has benefited from the increase in income from oil sales this year. According to Bloomberg, the country is on track to reach its record oil revenue of $337 billion in 2012.

Tradex Mena is a consulting group with 25 years of experience in the MENA region, particularly in the UAE and Turkey, offering services like market research, strategy advisory, business development, and investment advisory. Additionally, it operates a B2B platform for connecting buyers and sellers, facilitating investment opportunities and project collaborations.

Visit Us

  • Tradex Mena International Consulting Group L.L.C-FZ
  • 6th Floor, Business Center, The Meydan Hotel Grandstand, Meydan Road, Nad Al Sheba, Dubai, United Arab Emirates
  • Phone: +971 50 240 9735
  • Email: info@tradexmena.com
  • TRADEX INTERNATIONAL CONSULTING DANIŞMANLIK itH. iHr. ve TiC. LTD. ŞTi. Tomtom Mah. istiklal Cad. Beyoğlu iş Merkezi No.187 iç Kapr No: 4 Beyoğlu/iSTANBUL Beyoğlu V.D. 8591125255
  • Phone: +90 531 640 4133
  • Email: info@tradexmena.com
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