U.S. & Saudi energy ministers are scheduled to meet in Washington to discuss ways to boost output and lower global oil prices. On the negotiating table is Saudi Arabia’s long demand for a civilian civil nuclear cooperation which will enable it to enrich uranium and reprocess plutonium.
With Washington reapplying economic shackles on Iran’s economy, the United States is encouraging big oil producers to maintain their production levels. Towards this end, U.S. Energy Secretary Rick Perry met his Saudi counterpart Khalid al-Falih in Washington.
The two discussed the potential for U.S.-Saudi civil nuclear cooperation, the state of the world’s oil market, and efforts to share technologies to develop “clean fossil fuels,” said the state department in a statement.
On Thursday, Perry is also scheduled to meet his Russian counterpart, Alexander Novak, in Moscow, said a U.S. source.
Ahead of the November 6 congressional elections, U.S. President Donald Trump is pushing to bring down oil prices since they are perceived as a risk. Washington is set to renew Iranian sanctions on November 4.
So far it is unclear what Washington will offer big oil producers in return for higher oil production.
Since long Saudi Arabia has been seeking a civilian nuclear agreement with the United States and this could be the opportunity for the Kingdom to enrich uranium and reprocess plutonium.
Russia wants Washington to drop sanctions it imposed on Moscow.
OPEC and non-OPEC officials are scheduled to meet later this month for a proposal aimed at increasing their quotas for oil output. In June 2018, they had decided to boost their output modestly.