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The Guardian - UK

Business

Alex Lawson Energy correspondent

Oil price rises after Joe Biden fails to secure Saudi output increase

Joe Biden Oil Ineos OPEC Petrol

President Joe Biden meets Saudi Crown Prince Mohammed bin Salman at the Al Salman Royal Palace in Jeddah. Photograph: Saudi Press Agency/UPI/REX/Shutterstock

The price of oil rose on Monday after the US president, Joe Biden, came away from talks in the Middle East without an agreement on raising supply.

Biden had hoped to secure a promise from Saudi Arabia to increase its output of oil, which could lead to an easing of global supply pressures.

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