“Show me” the hostile act, Saudi energy minister says in response to claim OPEC weaponized energy
Washington made accusations of OPEC leadership Wednesday, claiming that the group was weaponizing oil. “siding with Russia.”To address uncertainty in the world market, the OPEC+ Group announced it would reduce its production in November.
“Are you using energy as a weapon?”CNBC’s Hadley Gamble asked Prince Abdulaziz bin Salman, the Saudi Arabian energy minister, at Wednesday’s press conference in Vienna.
“A very provocative question… which I take pleasure in answering, Hadley,” Prince Abdulaziz replied.
Please show me the location of any act or belligerence. Period.
OPEC announced that it would reduce output by two million barrels per hour, which is equivalent to 2%. This was contrary to speculations from media outlets. This is the largest reduction since 2020 when Covid-19 lockdowns drained the global oil demand.
“It’s clear that OPEC+ is aligning with Russia with today’s announcement,”Karine Jean-Pierre, White House press secretary, told journalists aboard Air Force One.
Also, the White House released a statement from Jake Sullivan (National Security Advisor) and Brian Deese (National Economic Council Director), which stated that President Joe Biden was being honored. “disappointed by the shortsighted decision”Production will be cut, which Biden will do. “consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices.”
OPEC’s decision came as the EU was preparing to announce a new packet of sanctions against Moscow, which would have tried to impose a price cap on Russian oil through shipping restrictions. US, its G7 partners endorsed the price limit.
There are still some employees at the organization. “open door”Gamble spoke to Haitham al-Ghais, Secretary-General of OPEC from Kuwait in order for the EU and energy discussions. “I’m waiting for someone to knock on that door.”
“We are not endangering the energy markets,” al-Ghais added. “We are providing security, stability to the energy markets.”
“At a price?”CNBC reported interjected.
“Everything has a price. Energie security comes with a cost.” al-Ghais replied.