Biden’s Effort to Import More Oil from the Saudis Will Help Russia and May Ultimately Come from Russia
Senile Joe Biden was in Saudi Arabia this week where he reportedly begged the Saudis for more oil. What the media is not reporting is that the oil from the Saudis may end up helping Russia and may actually be Russian oil.
Reports coming out of Saudi Arabia are that Biden is begging the Saudis for oil.
This comes after only months ago, President Trump made the US energy independent and the world’s top producer of oil. Biden has taken the US from low gas prices and energy independence to record high gas prices and begging foreign countries for more oil at record high prices.
Any oil coming from the Saudis will only help Russia. It’s difficult to believe the Biden gang doesn’t know this. Market Insider notes that the Saudis are importing Russian oil to meet demand while oil prices are at record high levels.
The world’s largest oil producer stepped up imports of Russian oil in the second quarter despite sanctions aimed at choking Moscow’s energy flows, Reuters said.
Saudi Arabia imported 647,000 tonnes of Russian oil from April to June, according to data reviewed by Reuters. Saudi Arabia took possession of the oil from Russian and Estonian ports, and has thus far imported 320,000 more barrels from Russia compared to 2021 levels.
The Kingdom’s increased willingness to grow its reliance on Russian oil is at odds with global powers which are trying to condemn the Kremlin and cut off its exports in response to its invasion of Ukraine in February. Reports say that President Biden’s trip to Saudi Arabia isn’t likely to yield a deal on oil, further straining price pressures in the US despite 20-straight days of decline prices at the pump.
The imports also allow the Kingdom to free up their own oil exports to reap in profits from the record-high prices on the international market. Some of the Russian fuel made its way to Saudi Arabia through Egypt, accounting for some of the 110,000 barrels per day imported from Egypt in June. Meanwhile, Egypt imported 70,000 barrels per day from Russia in June, Reuters said.
Increasing volumes of Russian oil products are appear to be landing in Saudi Arabia by way of Egypt, Bloomberg reported.
While Egypt exported fuels to Saudi Arabia before Russia invaded Ukraine, Saudi Arabia is now taking 3.2 million barrels of power station fuel from Egypt this month, according to data from Vortexa cited by Bloomberg, marking a six-year high. Meanwhile, Egypt’s imports of the fuel from Russia are soaring to 1.8 million barrels, the highest since at least 2016.
“It appears that increasing volumes of Russian fuel oil are making their way to Saudi Arabia via Egypt,” Jonathan Leitch, an oil market analyst at Turner, Mason & Co., told Bloomberg.
The increased exports come as Saudi Arabia typically ramps up its appetite for fuel over the summer as scorching temperatures drive up energy demand.
Under Biden, the US economy gets destroyed while countries like Saudi Arabia and Russia get rich. While the US sits on billions of barrels of oil and was only a year ago the world’s top producer of oil under President Trump.
The Biden/Obama gang is doing the best they can to destroy the US. Outrageous.