The Saudi Arabian government has told the United States that delaying a decision to cut production by the Organization of the Petroleum Exporting Countries and its allies would be negative for the world, the State Department said in a statement.
The group known as OPEC agreed on October 5 to cut supplies by 2 million barrels per day.
US President Joe Biden, who is trying to prevent Russia from benefiting from energy sales to contain Russia’s war in Ukraine, called the decision short-sighted and promised consequences for Saudi-American relations, but did not specify what his administration intended. In response, the Saudi Ministry of Foreign Affairs said that accusations that the kingdom took sides in international conflicts or supported cuts against the United States for political reasons were not based on facts and removed the OPEC decision from its economic context.
“The Kingdom explained in ongoing consultation with the US administration that all economic analyses show that delaying the OPEC decision by one month, as proposed, would have had negative economic consequences,” the statement said.
The kingdom also rejected statements criticizing it after OPEC’s decision to cut oil supply last week.
The ministerial statement said that the agreement between OPEC countries was consensual and aimed to balance supply and demand to curb market volatility, adding that Saudi Arabia rejected any attempt to divert it from its goal of protecting the global economy against fluctuations in the oil market.
Saudi Foreign Minister Adel al-Jubeir struck an optimistic note in an interview with CNN, saying, “Saudi Arabia does not politicize oil. We do not see oil as a weapon. We see oil as our commodity. Our goal is to bring stability to the oil market. And our record on that is very clear, not in recent weeks, but in recent decades. ” Regarding the impact of the dispute on Saudi-Saudi and American relations, he added that both countries have “enduring” interests, such as combating extremism and terrorism.
“I don’t think that this relationship is broken. Far from it, this relationship is very strong, “he said, adding, “We have almost 80,000 Americans living and working in Saudi Arabia, which has very strong trade and investment.
Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, also went on television and told Bloomberg: “Our priority now is market stability in terms of demand and investment.”
He said : “This mantra can be accepted if we are doing this intentionally to raise prices, and that is not on our radar. “Our radar is to ensure that the market is maintained.
The Statement of the Arab Ministry of Foreign Affairs, citing a mythical official, said: “Solving economic challenges requires the initiation of non-politicized constructive dialogue and wise and rational reflection that serves the interests of all countries. The Kingdom claims that it considers its relationship with the United States to be strategic, serving the interests of both countries’ common interests
Saudi Arabia was supported by Secretary General of the Persian Gulf Cooperation Council, Nayef Falah Al Hajraf.
A letter posted on his website said Al Hajraf “expressed full solidarity” with the kingdom, adding that statements criticizing Saudi Arabia “lack facts”. He praised “the important and central role of the Kingdom at the regional and international level in the field of mutual respect between countries” and “the duty of the Kingdom not to endanger the sovereignty of the countries and to protect the world economy against fluctuations in energy prices and to ensure its supply according to a balanced policy that takes into account the interests of producing and consuming countries.
American Democrats, looking at the impact of rising gas prices before the November election, attacked Saudi Arabia; some even called for an end to defense cooperation between the long-term partners.
American gas prices averaged $3.92 a gallon on Wednesday. Former US Secretary of State Mike Pompeo blamed Biden for the current energy crisis.
This is the failure of American politics. “Joe Biden is directly responsible for where the world is with energy.”
He also accused the progressive left of spending 25 years thinking they would “run the world on sunshine and windmills.”
In addition to not building new refineries, Pompeo said the current administration has the wrong strategy to make America energy independent.
We’re closing the pipeline, we’ve made it harder to permit, and we have ESG rules that now block the ability to take away American energy.
American consumers. ” “We have the ability here in the United States to help us,” Pompeo told Fox News Sunday.
“Pointing the finger at somebody else, OPEC or the Saudis, is a big mistake when the United States can ensure its country’s energy independence and, frankly, supply energy to the world as well.”