(World Oil) – U.S. Energy Secretary Chris Wright will tomorrow begin a nearly two-week tour of three Middle East countries, including Saudi Arabia, marking his first visit as a U.S. official to the de facto leader of the OPEC+ oil producer group.
The trip, which will also include visits to Qatar and the United Arab Emirates, is expected to help lay the groundwork for President Trump’s own visit to those countries, likely in mid-May. It comes at a critical time, on the heels of the surprise announcement yesterday that the U.S. and Iran are having direct talks on Tehran’s nuclear program.
Trump has said he wants to drive Iran’s oil exports to zero to prevent Iran from getting a nuclear weapon. Increased oil output from other global producers could help prevent a politically damaging price spike if Washington’s sanctions cut the exports.
Low oil prices could also help the United States into pressuring Russia, another top oil exporter, to come to an agreement over its war in Ukraine by choking some of the revenue Moscow depends on to fund the fighting.
Crown Prince Mohammed bin Salman has said the kingdom would develop nuclear weapons if its rival Iran does, raising concerns about a potential nuclear arms race in the Middle East.
Wright’s visit will come weeks after he met with Israeli Energy Minister Eli Cohen, who proposed an oil pipeline running from Saudi Arabia to Eilat, Israel, where oil could be shipped to Europe.
