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home / news releases / SHEL - Biden plans to meet the pariah - what could come from meeting the Saudi prince?

SHEL - Biden plans to meet the pariah - what could come from meeting the Saudi prince?

Royal Dutch Shell PLC American Depositary Shares (each representing two (2))
The White House is planning a meeting between the crown prince of Saudi Arabia, Mohammed bin Salman, and President Biden. Biden had previously referred to the Prince as "the pariah" and said he has "no redeeming social value;" statements which likely led to Saudi declining an invitation to speak with the President when oil (USO) prices spiked following Russia's invasion of Ukraine. The Senate since proposed to sue OPEC on grounds of anti-trust. A recent presentation from Saudi's energy minister provides clues to what the Prince could say in response to requests for more oil. In a recent presentation, energy minister Abdulaziz bin Salman noted that from March 2021 to May 2022, Brent oil prices (CO1:COM) rose 75% (PXD), but that unregulated energy markets have faired much worse; liquified natural gas prices rallied 297% (SHEL) over the same period, US natural gas prices 177% (EQT), while European and US coal prices rose 366%

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Biden plans to meet "the pariah" - what could come from meeting the Saudi prince?
Stock Information
Company Name: Royal Dutch Shell PLC American Depositary Shares (each representing two (2))
Stock Symbol: SHEL
Market: NYSE
Website: shell.com
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