5/25, 4:42 PM (Source: TeleTrader)
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US officials visit S. Arabia to talk oil output - report

Two senior officials of the Biden administration have visited Saudi Arabia to reach a deal with the country, Israel, and Egypt about a possible oil production increase, according to a report published by Axios on Wednesday.

The website cited US sources as saying that President Joe Biden is considering visiting Riyadh during his trip to the Middle East at the end of next month, with White House Middle East coordinator Brett McGurk and the State Department's energy envoy Amos Hochstein trying to negotiate an oil agreement ahead of his visit.

However, the State Department hasn't officially announced any official plans yet. Per the report, the Biden administration is increasing efforts to lower record gas prices in the United States before the midterm election set for November 2022.

Baha Breaking News (BBN) / ND