Crown Prince MBS hints at increasing Saudi oil production -- but not by much - New York Post

Saudi Arabia's Crown Prince Mohammed bin Salman hinted Saturday that his country could boost its oil production to help increase worldwide petroleum supplies — but not by much.

The de facto ruler of the oil-rich Middle Eastern kingdom told President Biden and members of the Gulf Cooperation Council that Saudi Arabia is almost at its limit of petroleum production, which he said would max out at 13 million barrels per day.

"After that the kingdom will not have any more capability to increase production," said the prince, known as MBS.

President Biden met with Saudi Arabian Prince Mohammed bin Salman and other Middle East leaders in Saudi Arabia on July 16, 2022. Jordanian Royal Palace/AFP via G

Saudi Arabia is already pumping about 10.2 million barrels of crude oil a day, according to the US Energy Information Administration.

Biden told reporters Friday that MBS had agreed in a closed-door meeting to boost the amount of oil it pumps, thereby easing high gas prices for Americans.

But the Crown Prince's comments Saturday appeared to cast doubt on the president's assertion.

BIden vowed to make Saudi Arabia a "pariah" country while running for president. Photo by MANDEL NGAN/POOL/AFP via Getty Images

Saudi leaders have repeatedly said they will not increase the kingdom's oil production without the agreement of its partners in OPEC+, which next meets Aug. 3.

And while Saudi Aramco has announced plans to expand its production capacity to the 13-million-barrel level that MBS cited, the effort will take five more years to complete, according to Oilprice.com.

In his speech, MBS critiqued what he called "unrealistic" climate-change policies in a back-handed slap at Biden's green energy goals.

Biden's previous tough stance on Saudi Arabia was due to the murder of Washington Post columnist Jamal Khashoggi. Photo by MANDEL NGAN/AFP via Getty Images

"Adopting unrealistic policies to reduce emissions by excluding main sources of energy will lead in coming years to unprecedented inflation and an increase in energy prices, and rising unemployment and a worsening of serious social and security problems," he said.

The comment echoed those of Biden's domestic critics – on both sides of the political aisle – who have denounced his continued refusal to tap America's own energy resources.

"You don't need to travel 11,000 miles and fist bump the Saudis," tweeted Rep. Nicole Malliotakis (R-Staten Island). "You can visit oil and natural gas producing states right here in the USA!"

"This president seems to be incapable of doing any of the hard work which needs to be done for the American people," said Corbin Trent, co-founder of the No Excuses PAC and former spokesman for Rep. Alexandria Ocasio-Cortez. "We need an all-encompassing US energy policy … a Green New Deal — which includes gas and oil."

Biden speaking during the Gulf Cooperation Council meeting. AP Photo/Evan Vucci

Biden — who pledged on the campaign trail to make Saudi Arabia a "pariah" over the prince's role in the killing of Washington Post columnist Jamal Khashoggi – stood shoulder to shoulder Saturday with MBS, along with leaders from Bahrain, Egypt, Iraq, Qatar, Kuwait, Oman, Jordan, and the United Arab Emirates for what the White House dubbed a "family photo."

Biden has been in the region since Thursday for a controversial, whirlwind round of top level talks.

"The United States is not going anywhere," Biden told the Arab leaders in a speech Saturday.

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"We will not walk away and leave a vacuum to be filled by China, Russia or Iran," he said. "We will seek to build on this moment with active, principled, American leadership."

But he prodded his counterparts on human rights.

"The future will be won by the countries that unleash the full potential of their populations, where women can exercise equal rights and contribute to building stronger economies, resilient societies, and more modern and capable militaries; where citizens can question and criticize their leaders without fear of reprisal," he said.

His speech also included yet another painful verbal gaffe, as Biden spoke of the "selfishness" of American troops who have served in the Middle East in recent decades.

"Selflessness," he said, correcting himself.

Biden's trip has sought to shore up some of the United States' traditional Middle Eastern alliances – and to boost oil production as a way to calm the runaway inflation that has hammered his approval ratings at home.

After first visiting Israel, the president arrived in Saudi Arabia on Friday and met with the country's Crown Prince, offering a fist bump which sparked controversy. Concerns over sky-high oil prices have forced his administration to reconsider his promise to isolate the kingdom.

Before the Saturday photo, Biden sat for bilateral talks with the leaders of Iraq, Egypt and the UAE. He also participated in a reception and welcome lunch for the assembled Middle East potentates.