The US criticised the kingdom for insisting last week’s output cut was economically rather than politically motivated.
Saudi Arabia is rejecting as baseless accusations that last week’s output cut by oil cartel OPEC and its allies, including Russia, was politically motivated against the United States.
The decision to cut production by two million barrels a day from November infuriated the White House, with President Joe Biden promising “consequences” for OPEC’s top producer Saudi Arabia.
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“Saudi Arabia has viewed the statements … which have described the decision as the kingdom taking sides in international conflicts and that it was politically motivated against the United States,” the Saudi foreign ministry said in a statement on Thursday.
Saudi Arabia would “like to express its total rejection of these statements that are not based on facts and which are based on portraying the OPEC+ decision out of its economic context”, it added.
The kingdom insisted decisions by OPEC and its allies, known as OPEC+, were taken “purely on economic considerations” and its economic advice had been to resist calls to delay the production cut.
‘Interests of all’
“The government of the kingdom clarified through its continuous consultation with the US administration that all economic analyses indicate that postponing the OPEC+ decision for a month … would have had negative economic consequences,” the ministry said.
“Resolving economic challenges requires the establishment of a non-politicised constructive dialogue and to wisely and rationally consider what serves the interests of all countries.”
Saudi Arabia denied it was taking sides over Russia’s invasion of Western-backed Ukraine, insisting it had maintained a “principled position” in support of international law.
Responding to the Saudi statement, the US criticised Saudi Arabia for insisting last week’s output cut was economically rather than politically motivated.