Why Biden Could Come Back From Saudi Arabia Empty Handed

As U.S. President Joe Biden travels on his first visit to the Middle East this week, he and his team will make the case for the need for additional oil supply to the market.   The Middle East is just the right place to go when oil supply is concerned. Unfortunately for President Biden and for consumers in America and elsewhere, the biggest oil producers in the Middle East have very little to offer in the short term to alleviate the pain at the pump. Saudi Arabia, the world’s biggest crude oil exporter, may not have the capacity…