Riyadh: Saudi Arabia says that the decision of the OPEC Plus countries to reduce oil production without implementation will be negative for the world situation. The Ministry of External Affairs said the matter had been officially notified to the United States. The meeting of petroleum producing and exporting countries and allies held on the 5th of this month decided to cut the daily production of crude oil to 20 lakh barrels.
The President of the United States, Joe Biden, who is trying to prevent Russia from making gains by raising oil prices in the Ukraine war situation, described the decision of the OPEC countries as ‘short-sighted’. Saudi Arabia has informed the United States of this situation while warning that this will reflect on the United States’ relationship with Saudi Arabia.
A detailed statement regarding this has been published by the Ministry of External Affairs on its official Twitter page. The statement said that Saudi Arabia does not see oil as a political tool and the interpretation that the country is taking sides in an international conflict is not factual. The US administration has been informed that the OPEC Plus meeting has decided to limit production given the economic background and the course of the global oil market.
Postponing the implementation of the decision is considered counterproductive in the current global situation. All economic analysis suggests that postponing the decision of the OPEC meeting will have economic consequences. As a forum of oil producing countries, the OPEC countries made a unanimous decision in an effort to end market volatility and balance the demand and supply of products.
Saudi Arabia does not intend to politicize oil and they do not see oil as a weapon, but as a product, Saudi Minister of State for Foreign Affairs Adil Al-Jubeir said in an interview given to the CNN channel. The relationship with the United States is not for a few weeks. He added that it lasts for decades. OPEC Saudi-U yoga decision. On the question of the impact on the S relationship, the minister said that the relationship between the two countries has permanent interests.
A joint fight against extremism and terrorism is among those interests. It is a strong relationship where trade and investment transactions exist. He added that 80,000 Americans live and work in Saudi Arabia. Energy Affairs Minister Amir Abdul Aziz bin Salman told Bloomberg that they consider market stability behind the decision to reduce oil production.
Meanwhile, former US Secretary of State Mike Pompeo came out to blame Joe Biden for the current energy crisis. The government is trying to generate energy from solar and wind sources. Not only are new refineries not being built, but wrong strategies are being adopted. Pompeo told ‘Fox News’ that it is wrong to point the finger at the OPEC alliance or Saudi Arabia without trying to increase energy production in their own country.
