In October 2022, OPEC announced a cut to oil production—a decision that produced outrage from the Biden administration. On October 13, The Saudi Foreign Ministry
President Biden announced that 15 million additional barrels would be released from the strategic oil reserve. As a result of the transparent move to bail
October 31 – On October 31, President Biden threatened to impose a windfall tax and other restrictions on major oil companies making “excess profits,” accusing