The OPEC Plus group of oil-producing nations, which includes Russia and Saudi Arabia, is expected to announce a significant cut to oil production on Wednesday, in a move that could push gas prices up worldwide and represent a direct rebuke to President Biden.
The potential cut comes despite aggressive lobbying by the Biden administration for the consortium to continue production at current levels or higher - punctuated by Biden's visit to Saudi Arabia in July. The new policy is expected to be announced Wednesday morning. Biden had earlier in his administration vowed to make Saudi Arabia an international pariah, but he re-engaged while trying to use all available channels to curb increases in the price of gas.
