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Two smart pieces of commentary explore why OPEC's decision to lift output was a split decision for the White House, which openly called for higher production.

Situational awareness: "Oil prices rose Friday, holding on to more than three-year highs, supported by continuing risks to supply in Libya, Iran and North America," the Wall Street Journal reports.

1. In Bloomberg's opinion section, Harvard's Meghan O'Sullivan writes that President Trump may have overplayed his hand by taking tough stances against Iran and Venezuela at a time of tightening markets.

  • Unintended: "Trump seems to have been too confident in his ability to make foreign policy first and think about energy next. A byproduct of his 'energy dominance' approach has been to reinforce OPEC’s relevance at a time when the future of the cartel has been in question. Given Trump’s longstanding animosity toward OPEC, this result was surely unintended," she writes.

2. The Atlantic Council has a good interview with RBC Capital Markets' Helima Croft. She's more bullish on how the White House fared, calling the administration the "biggest winner" from the OPEC meeting.

  • "President Trump intervened in the OPEC decision-making in April with his first Tweet criticizing the organization, posted while they were meeting in Jeddah. He kept up the pressure and there were reports that America wanted a million barrels, and they got the number they wanted," she writes.
  • Yes, but: Croft later notes that it's not all sunny for the U.S., because logistical constraints in the Permian basin are slowing shale's growth. "This puts the White House back in a position where it is forced to ask Saudi Arabia and other Gulf allies for help. And that is why the United States is back in this position of dependence," she said.

Go deeper

Updated 4 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.

Supreme Court agrees to hear challenges to Texas abortion law

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court on Friday agreed to hear two cases challenging Texas' abortion law, which bans the procedure as soon as six weeks into pregnancy, but left the law in place in the meantime.

Why it matters: The court is moving extraordinarily fast on the Texas cases, compressing into just a few days a process that normally takes months. And that schedule means the court will take up Texas' ban a month before it hears another major abortion case — a challenge to Mississippi's own 2018 ban on abortions after 15 weeks.

Officials warn 5 key tech sectors will determine whether China overtakes U.S.

Illustration: Aïda Amer/Axios

U.S. intelligence officials responsible for protecting advanced technologies have narrowed their focus to five key sectors: artificial intelligence, quantum computing, biotechnology, semiconductors and autonomous systems.

Why it matters: China and Russia are employing a variety of legal and illegal methods to undermine and overtake U.S. dominance in these critical industries, officials warned in a new paper. Their success will determine "whether America remains the world’s leading superpower or is eclipsed by strategic competitors."