OPEC's decision to curb oil production is a sign that President Biden's influence over his Gulf allies is less than he had hoped.
WASHINGTON - OPEC's move on Wednesday to cut oil production severely undermined President Biden's effort to prevent a spike in gas prices ahead of the midterm elections,
At the same time, Russia reversed its push to block the oil revenue it uses to pay for its war in Ukraine.
It also exposes the failure of his fist-pumping diplomacy over the summer with a Saudi Arabian prince.
In both optics and substance, the action by OPEC and its affiliated oil producers underscore
the challenges the United States faces in managing its foreign and economic policy at a time when the global economy is at risk of recession.
And power politics became crucial. Part of the conflict in Ukraine.
The decision was taken at a meeting held at OPEC's Vienna headquarters in the presence of the deputy prime minister of Russia under US sanctions.