Biden to Meet Bin Salman, Who Was Said to Be an International 'Outcast'... Will It Curb the Surge in Oil Prices?

White House "Will Hold Bilateral Talks"... Approval Rating Plummets to 30% Range
Security Guarantees Demanded in Exchange for Oil Production Increase... "Discussion on Strengthening Air Defense System"

[Image source=EPA Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] The White House has officially confirmed that U.S. President Joe Biden will hold a face-to-face meeting with Crown Prince Mohammed bin Salman of Saudi Arabia during his Middle East tour next week, sparking growing controversy both inside and outside the United States. This is because it conflicts with the 'human rights' principle that President Biden has upheld as a fundamental diplomatic policy since his last presidential campaign.

Accordingly, President Biden is now in a situation where he must secure a promise of increased oil production during this Middle East tour to help curb soaring international oil prices. It is expected that Middle Eastern countries will demand security guarantees in exchange for this.

On the 7th (local time), John Kirby, Coordinator for Strategic Communications at the White House National Security Council (NSC), stated at a press briefing, "President Biden will hold bilateral talks with King Salman bin Abdulaziz Al Saud of Saudi Arabia and the leadership during his Middle East tour next week," adding, "Since Crown Prince Mohammed bin Salman is part of the Saudi leadership, he will also be part of the bilateral talks."

The White House has officially announced the face-to-face meeting between President Biden and Crown Prince bin Salman, which has been a major source of controversy both domestically and internationally. Crown Prince bin Salman has been targeted by the U.S. Democratic Party and its key supporters since being implicated as the mastermind behind the 2018 murder of Jamal Khashoggi, a Saudi dissident journalist and Washington Post (WP) columnist.

[Image source=AP Yonhap News]

When he was a presidential candidate, President Biden strongly criticized Crown Prince bin Salman, saying he would "make him a pariah." The term "pariah" refers to the lowest caste in the Indian caste system, the untouchables, and is interpreted as meaning complete isolation in the international community.

The direct cause of President Biden meeting Crown Prince bin Salman despite reversing his previous stance is the highest inflation in 40 years and the resulting drop in approval ratings. According to a poll conducted by Monmouth University in the U.S. on the 5th, President Biden's approval rating hit a record low of 36%. If President Biden fails to achieve visible results during this Middle East tour, even his core supporters are expected to defect, further narrowing his political standing.

The key is to extract the maximum possible oil production increase from Saudi Arabia and other Middle Eastern countries. According to a report by the International Energy Agency (IEA) last month, Saudi Arabia and the United Arab Emirates (UAE) currently have the capacity to increase production among Middle Eastern countries. If both countries proceed with maximum production increases, it is predicted that oil production could rise by 3.25 million barrels per day. This volume is sufficient to replace the reduced supply of Russian oil due to sanctions against Russia.

Middle Eastern countries are demanding security guarantees, which will require enormous costs, as a condition for increasing production. According to The New York Times (NYT), U.S. allies in the Middle East, including Saudi Arabia and Israel, are reportedly requesting the U.S. to install air defense systems and provide military assistance to counter security threats related to Iran's ballistic missile and nuclear development. Coordinator Kirby also stated, "During this Middle East tour, President Biden will discuss strengthening air defense systems against the ballistic missile threat from Iran with Middle Eastern countries," adding, "Plans are in place to discuss integrated air defense measures to effectively respond to the Iranian threat."