Riyadh said Washington sought to delay OPEC’s oil cut announcement for a month
Saudi Arabia has said that OPEC’s decision to cut oil production was based solely on economic considerations, not politics, and that the organization resisted pressure from the United States to put off the move for several weeks.
The Saudi Foreign Ministry issued a statement on Wednesday pushing back on allegations that the oil cut was intended to benefit Russia, insisting it is not “taking sides in international conflicts” or making “politically motivated” decisions.
“These outcomes are based purely on economic considerations that take into account maintaining balance of supply and demand in the oil markets, as well as aim to limit volatility that does not serve the interests of consumers and producers, as has been always the case within OPEC +,” the ministry said, adding that the cut was approved “unanimously by all member states” of the…
