Nearly two months after President Joe Biden vowed “there will be consequences” for Saudi Arabia’s actions to cut oil production, the U.S. is not actively considering any significant retaliatory actions against the kingdom, according to two U.S. officials.

U.S. and Saudi relations hit a low point after Saudi Arabia pushed OPEC members to cut oil production by 2 million barrels per day at their Oct. 6 meeting. But since then gas prices have not skyrocketed as U.S. officials had feared they would. In fact, analysts now believe they could fall below $3 a gallon before the end of the year.

With that, the White House’s initial bitterness about the decision subsided, the officials said.

[Nonsense. The threats were for public consumption only in the midterm run-up. Now that the midterms are over, so is the need for Biden to posture. — Ed]