Who Is Accusing Saudi Arabia Of Siding With Russia On Oil Deductions?
-
Salma Hossein
- . October 17, 2022
- . Update: November 11, 2022 12:59 am
America has not taken too well with the Saudi Arabian stance of controlling oil outputs as the foremost authority in OPEC+ nations. In a sudden change of events, the Kingdom has been accused of standing by Russia and that it has other reasons to cut its oil supplies.
The rumour was tried to be settled as Prince Khalid retweeted a Twitter post by Ukrainian President Volodymyr Zelensky where his counterpart in Ukraine has thanked Crown Prince Mohammed bin Salman for supporting Ukraine’s territorial integrity and announcing Saudi aid to the country. Prince Khalid said it that “these false accusations did not come from the Ukrainian government.”
Lobbying is being done to ensure the main culprits (Houthis) are designated by the OPEC + group as a terrorist organization as well as by the West as most oil facilities in the Saudi Arabia have been destroyed by them.
Read | AFC Asian Cup 2027: India, Saudi Arabia to compete for hosting rights
This is being seen as one reason why the oil supplies have been cut down, according to wide political understanding. The Kingdom has retorted to rumours saying that it should be understood that siding could have been done with Iran also, as both Russia and Iran are OPEC+ members, but the oil productions have still been cut down.
Meanwhile, the secretary general of OPEC Haitham Al-Ghais said on Sunday that the organization does not target a specific price, but rather targets balance between supply and demand.
“Slow economic growth reflects on oil demand and OPEC+ took a pre-emptive decision,” he said. “The stability of oil markets is important for the future; it is not only about today. Our decisions are purely technical,” the official said.
