Washington’s Oil Supply Spat With Saudi Arabia Could Backfire

Three weeks ago, President Joe Biden threatened Saudi Arabia with “consequences” after the kingdom that is the de facto leader of OPEC supported a decision to reduce oil production by about 1 million barrels daily. The U.S. president was so agitated because U.S. midterms were approaching, and his and his government’s rating was falling and gasoline prices were rising. He never specified what the consequences would be, but other voices have joined in criticizing Saudi Arabia for not taking the U.S. side but rather its own: the…