Saudi Arabia rejected as “not based on facts” statements
criticising the kingdom after an OPEC+ decision last week to cut
its oil production target despite U.S. objections, saying it serves
the interests of both consumers and producers, Trend reports citing
Reuters.
The OPEC+ decision was adopted through consensus, took into
account the balance of supply and demand and was aimed at curbing
market volatility, the Saudi foreign ministry said in a statement
on Thursday.
President Joe Biden pledged earlier this week that “there will
be consequences” for U.S. relations with Saudi Arabia after OPEC+
said last week it would cut its oil production target by 2 million
barrels per day.
OPEC+, the producer group comprising the Organization of the
Petroleum Exporting Countries (OPEC) plus allies including Russia,
announced its new production target after weeks of lobbying by U.S.
officials against such a move.
The Saudi foreign ministry statement, quoting an unnamed
official, stressed the “purely economic context” of the oil
cut.
“The Kingdom clarified through its continuous consultations with
the U.S. administration that all economic analyses indicate that
postponing the OPEC+ decision for a month, according to what has
been suggested would have had negative economic consequences,” it
said.
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