Saudi’s doubles down on OPEC+ decision

The latest OPEC+ decision to reduce oil production by two million barrels per day was defended on Tuesday by Foreign Minister Prince Faisal bin Farhan. Prince Faisal affirmed in an interview with a local media agency that Saudi Arabia and the United States have strategic connections and that Saudi Arabia supports regional security and stability.

After a statement from the US administration officials suggested that Washington may be considering reconsidering its ties with the Kingdom, Prince Faisal gave an official response indicating thus: “our relationship with the United States has been institutionalized since it was established.”

He continued by saying that both Saudi Arabia and the US benefited from their military partnership. According to him, the decision made by the OPEC+ member states was entirely economic in nature. “OPEC+ members acted responsibly and took the appropriate decision,” he said.

On the Russian-Ukrainian crisis, he said: “We seek to push the parties to dialogue to stop the conflict.”

The minister also used this avenue to comment on the current crisis in Yemen. He explained that efforts are still being made in Yemen to prolong the armistice. “The Yemeni government has shown great flexibility with high responsibility towards Yemen’s interest.”

Commenting on the relationship with Iran, he said: “The dialogue with Iran has not yet yielded tangible results, and we are looking at a sixth round of talks.” He also emphasised the economic nature of the Kingdon’s relationship with China and the numerous economic initiatives they are working on together.