The White House Does Not Expect Arab States to Weaponize Oil  Nov 20, 2023   Visit Source  



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Tsvetana Paraskova

Tsvetana is a writer for with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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The United States is confident that the Arab states will not use oil supply as a weapon as they have done in the past, White House energy security adviser Amos Hochstein told the Financial Times in an interview published this weekend.


According to the Biden Administration’s top energy adviser, the U.S. and the global oil market are managing the double geopolitical jeopardy of the past year – the Russian invasion of Ukraine and the Israel-Hamas war – “fairly well.”


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“We have two active wars in the world, one involving the world’s third-largest producer [Russia], the other in the Middle East where missiles are flying near where oil is produced, and yet prices are near the lower point of the year,” Hochstein told FT.

Last week, Hochstein said that the United States would tighten sanctions on Iran’s oil industry amid the Israel-Hamas conflict, aiming to bring Iranian exports down by more than 1 million bpd.


However, market speculation is intensifying that the OPEC+ ministers could decide to make deeper production cuts beginning next year when they meet in the November 25-26 weekend.


At any rate, Saudi Arabia – the world’s top crude oil exporter and OPEC+ leader – is expected to attribute any extra cuts to the oil market situation, not the conflict in Gaza, sources close to Saudi Arabia’s thinking have told FT.

By Tsvetana Paraskova for

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