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    Home > Chemicals Industry > Petrochemical News > Saudi Arabia announces deep cuts in oil production, Biden warns: Saudi Arabia will "bear consequences"

    Saudi Arabia announces deep cuts in oil production, Biden warns: Saudi Arabia will "bear consequences"

    • Last Update: 2022-10-20
    • Source: Internet
    • Author: User
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    According to the Financial Times on October 12, US President Biden warned on the 11th that Saudi Arabia announced a sharp reduction in oil production last week and would "bear the consequences"
    .
    He said "the U.
    S.
    -Riyadh relationship will be reassessed in talks with Congress next month.
    "
    The day before, Bob Menendez, chairman of the US Senate Foreign Relations Committee, urged Biden that the United States must immediately freeze all cooperation
    with Saudi Arabia, including arms sales.

    USA: Think about the future

    Reuters reported on the 12th that Biden said on the 11th: "They (Saudi Arabia) have done something for Russia and will bear the consequences
    .
    " "I won't reveal what action I'm considering, but there will be consequences
    .
    " CNN reported on the 11th that John Kirby, coordinator of strategic communications at the National Security Council, said in an interview that Biden made it very clear that "the United States needs to reassess its relationship with Saudi Arabia.
    "
    Given the decision of the Organization of the Petroleum Exporting Countries (OPEC), Biden is "willing to work with Congress to think about how the future US-Saudi relations should go.
    "
    Asked about U.
    S.
    plans to freeze arms sales to Saudi Arabia, Kirby said
    , "I think it's now.
    "

    Last week, OPEC+ announced it would cut crude oil production by 2 million barrels
    per day.
    US media said the move would raise crude oil prices and help Russian President Vladimir Putin support the "war of aggression"
    against Ukraine.
    To this end, members of the US Democratic Congress urged the United States to freeze its cooperation
    with Saudi Arabia.

    Saudi Arabia: Purely economic

    In the face of the aggressive statement of the United States, the Saudi side also responded
    .
    According to the Saudi Arabian newspaper reported on the 12th, Saudi Foreign Minister Faisal bin Farhan stressed on the same day: "OPEC's decision is purely an economic decision and is made unanimously by
    member states.
    " "OPEC members acted responsibly and made appropriate decisions
    .
    " OPEC countries seek market stability and realize the interests of
    producers and consumers.

    Faisal bin Farhan added that Riyadh and Washington "enjoy a strategic relationship that supports regional security" and that "military cooperation between Saudi Arabia and the United States is in the interests of both countries and contributes to
    stability in the region.
    " "Our relationship with the United States has been institutionalized
    since the relationship between the two countries was established.
    " Referring to the conflict between Russia and Ukraine, Faisal said: "We have been seeking a dialogue to resolve the Russian-Ukrainian conflict in order to end this conflict
    .

    Some US media said that Saudi Arabia is a key ally of the United States in the Middle East, but Washington's relationship with Riyadh is quite complicated
    .
    Because of Saudi Arabia's "poor human rights record," Biden vowed to recalibrate U.
    S.
    -Saudi relations last year, but visited Saudi Arabia
    earlier this year.
    Biden told CNN that he would consult with Congress on what to do next, but did not immediately respond to calls from Democratic lawmakers to end arms sales
    to Saudi Arabia.

    Washington vs.
    Riyadh

    According to US media reports, some US congressmen introduced a bill calling for an "immediate one-year moratorium on the sale of US weapons to Saudi Arabia, including weapons spare parts and logistics services"
    .
    However, how much Biden is willing to make to show his dissatisfaction with Saudi Arabia is unknown
    .

    Qatar's Al Jazeera said on the 12th that the United States threatened further retaliation against Saudi Arabia, which further complicated the situation, and the future of the international oil market is of concern
    .
    The Wall Street Journal said on the 12th that according to people familiar with the matter, a few days before the "OPEC+" announced the decision to reduce major oil production, US officials called officials in Saudi Arabia and other countries to urgently appeal for postponing the decision to reduce production for another month, but was sternly rejected
    .
    U.
    S.
    officials warned Saudi leaders that "cutting oil production would be seen as Riyadh's clear choice to side with Russia in the war in Ukraine, a move that would weaken Washington's already dwindling Saudi support.
    "
    Even so, Saudi Arabia shook its head at
    the United States.
    "This is a political game by the Biden administration to avoid bad news ahead of the US midterm elections, which will determine the control of
    the US Congress," they argued.
    High oil prices and inflation have become central issues in the campaign.
    "


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