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Biden Vows ‘Consequences’ for Saudi Arabia After Oil Production Cut

The New York Times · Peter Baker · last updated

Angered by the kingdom’s decision to team up with Russia, President Biden signaled openness to retaliatory measures, including a halt to arms sales and allowing price-fixing lawsuits.

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Related Knowledge Center: Energy security and pricing

State of Play

The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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