On August 3, 2022, OPEC+ held its 31st ministerial meeting in Vienna. Before the meeting, U.S. President Joe Biden asked Saudi Crown Prince Mohammad Bin Salman to increase the Kingdom's oil production. During their meeting, the OPEC+ member states decided to increase oil output by 100,000 barrels per day (bpd) starting from September 2022. This increase is considered to be the smallest since 1986.
Tactical Report has prepared a 771-word (3 pages) In-Depth report that will go over the OPEC+ meeting results and its effect on U.S.-Saudi relations.