OPEC+ announced Thursday that members of the oil cartel agreed to a larger-than-expected hike in output, signaling a potential thaw in relations between the U.S. and Saudi Arabia ahead of a potential trip by President Joe Biden’s trip to the Middle East.
The White House offered measured praise for the move, giving credit to Riyadh for acknowledging tight market conditions and pushing OPEC members to boost their production.
“We welcome the important decision from OPEC+ today
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