Senator Tim Scott and Representative James Comer wrote in letters that an “EU-style climate regulatory regime” would harm the U.S. energy, agriculture and financial sectors.

Starting July 2023, Saudi Arabia will begin cutting back its contributions to the global oil supply by at least 1 million barrels a day.

The region is still recovering from a historic energy crisis that was exacerbated by severe supply cuts from Russia in the wake of its war with Ukraine.