OPEC has chosen to stop using oil data from the IEA, which is considered the West’s energy watchdog. This has raised concerns about the strained relationship between Saudi Arabia and Washington and how it may be impacting reactions to the Ukraine-Russia crisis. U.S. President Biden is facing pressure to lower gasoline prices and address inflation ahead of mid-term elections in November, however the lack of relations with Saudi Arabia has proven to make the situation even more delicate. Saudi Arabia and its allies are likely unwilling to assist the United States due to the lack of American addressal of Gulf concerns about Iran at nuclear talks in Vienna, the lack of support for offensive operations by the Saudi-led coalition in Yemen, and imposed conditions on U.S. weapons sales to Gulf states. OPEC’s dropping of the IEA data reflects this frustration of bias from the IEA towards the United States, and other factors straining U.S.-Gulf relations.
- Saudi Arabia leads OPEC decision to drop IEA data as US ties fray