French President Emmanuel Macron spoke with Joe Biden on Monday, June 27, 2022, near journalists, about attempts to get Arab nations to produce more oil to lower the spike in gas prices. As President Macron broke the bad news to Biden, Jake Sullivan, Biden’s national security advisor, interrupted the conversation as the leader discussed the oil crisis with Biden at the G-7 summit in Germany. “Careful. Maybe we should just step inside … because of the cameras,” Sullivan said, motioning to journalists on the sidelines covering the G-7 summit.

It’s not clear that Biden comprehended what Macron was saying as he started to walk away before Macron was finished talking.

Michael Shellenberger, a bestselling author, tweeted a video of the exchange.

Biden was counting on Arab nations to produce more oil but a few hours ago French President Macron was overheard telling Biden that the United Arab Emirates is at max capacity & the Saudis can’t produce much more. It appears to be a direct appeal to Biden to produce more oil.

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French President Emmanuel Macron said on Monday (June 27) the Crown Prince of the United Arab Emirates, Sheikh Mohammed bin Zayed (MbZ), told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production.

“I had a call with MbZ,” Macron was heard telling U.S. President Joe Biden on the sidelines of the G7 summit.

“He told me two things. I’m at a maximum, maximum (production capacity). Second, he told me…the Saudis can increase a little bit, 150 (thousands barrels per day) or a little but more. They don’t have huge capacities at this stage,” Macron said.

Brent oil prices jumped by over $2 per barrel to above $115 per barrel on the news amid tight global supplies and rising demand.

Saudi Arabia and the UAE have been perceived as the only two countries in producer group the Organization of the Petroleum Exporting Countries and the world which still have some spare capacity and could help increase global deliveries.

The West is seeking ways to reduce Russian oil imports to punish Moscow for the invasion of Ukraine.

Saudi Arabia is currently producing 10.5 million bpd and has a nameplate capacity of 12.0 million-12.5 million bpd, which in theory shall allow it to raise production by 2 million.

The UAE is producing some 3 million bpd, has capacity of 3.4 million and has been working on raising it to 4 million bpd.

Energy Minister Suhail bin Mohammed Al Mazrouei tweeted;

In light of recent media reports, I would like to clarify that the UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline (3,168 mbopd) which UAE is committed by until the end of the agreement.

After taking office, Biden immediately wreaked havoc on domestic energy production, including canceling the Keystone XL pipeline, banning new oil and gas leasing on public lands, and stopping the sales of several drilling areas in Alaska and the Gulf of Mexico.

That news means that Biden’s visit to meet Saudi Crown Prince Mohammed bin Salman in July may be unsuccessful in convincing the oil-rich Arab states to help alleviate the skyrocketing gas prices.

Reuters reported that “Saudi Arabia and the UAE have been perceived as the only two countries in producer group the Organization of the Petroleum Exporting Countries and the world which still have some spare capacity and could help increase global deliveries.”

President Macron is a savvy person, and it almost seems as if he purposely told Bident the game-changing intel within earshot of the media. If he wanted the information to remain secret, he would have waited for an opportunity without journalists able to hear the conversation. It’s almost as if this “accidentally” revealed intel was a way to pressure Biden to take action. Maybe we should be grateful for Macron’s carlessness.

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