The G20 meetings kick off in Houston, Texas, amid surging oil and gas prices due to the ongoing Middle East war, with Europe facing challenges in filling gas storage for winter. Delegates from major economies, including China, India, Japan, and Germany, will participate, alongside key oil producers like Canada and Saudi Arabia. The presence of Russian officials adds complexity to discussions, particularly as Ukraine’s allies express concerns over inviting Russia given the ongoing conflict.
As prices at the pump soar in the U.S., with diesel hitting historic highs, discussions will focus on ensuring access to affordable energy. The Biden administration positions itself as a leader in energy security, attempting to navigate the political pressures stemming from the war and its economic repercussions ahead of the midterm elections.
