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US reportedly courting Saudis and Venezuelans for oil

Business 13:15 07 Mar, 2022

The US government is reportedly considering a trip to Saudi Arabia to ask the kingdom to bolster oil production

US reportedly courting Saudis and Venezuelans for oil

The US government is reportedly considering a trip by President Joe Biden to Saudi Arabia to ask the kingdom to bolster oil production.

As the White House scrambles to address a global energy crisis caused by Russia's invasion of Ukraine.

A White House spokesperson, however, said no such trip is yet being announced, and “a lot of this is premature speculation".

US and Venezuelan officials have also reportedly discussed easing oil sanctions. A number of US lawmakers have suggested Venezuelan oil could help replace Russian oil, Qazet.az reports according to the New York Times.

The US currently relies on Russia for 10% of its imports of crude oil and petroleum products.