Local media reported that Congress has a clear advantage in exit polls in Haryana and Jammu and Kashmir
world52 minutes ago
Saudi Arabia rejected as “not based on facts” criticism of an Opec+ decision last week to cut its oil production target despite US objections, and said Washington’s request to delay the cut by a month would have had negative economic consequences.
The Opec+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volatility, the Saudi foreign ministry said in a statement on Thursday.
US President Joe Biden pledged earlier this week that “there will be consequences” for US relations with Saudi Arabia after Opec+ said last week it would cut its oil production target by 2 million barrels per day.
Opec+, the producer group comprising the Organization of the Petroleum Exporting Countries (Opec) plus allies including Russia, announced its new production target after weeks of lobbying by US officials against such a move.
The Opec+ cut has raised concerns in Washington about the possibility of higher gasoline prices ahead of the November US midterm elections, with the Democrats trying to retain their control of the House of Representatives and Senate.
The Saudi foreign ministry statement on Thursday referred to consultations with the United States prior to the October 5 Opec+ meeting in which it was asked to delay the cuts by a month.
“The Kingdom clarified through its continuous consultations with the US administration that all economic analyses indicate that postponing the Opec+ decision for a month, according to what has been suggested would have had negative economic consequences,” the Saudi foreign ministry statement said.
The United States accused Saudi Arabia of kowtowing to Moscow, which objects to a Western cap on the price of Russian oil in response to its invasion of Ukraine.
The Saudi foreign ministry statement, quoting an unnamed official, stressed the “purely economic context” of the oil cut.
It also said the kingdom views its relationship with the United States as a “strategic one” and stressed the importance of mutual respect.
The Gulf Cooperation Council (GCC) issued a statement in support of Saudi Arabia’s comments praising the kingdom’s efforts to protect the market from volatility. — Reuters
Local media reported that Congress has a clear advantage in exit polls in Haryana and Jammu and Kashmir
world52 minutes ago
Double Olympic Gold Medalist Aims to Inspire the Next Generation of Sailors as she makes her debut for Mubadala Brazil SailGP Team
lifestyle53 minutes ago
The 33-year-old needs just 71 more to overhaul Cook's 12,472 Test runs for England
cricket1 hour ago
The rematch will take place on December 21 in Riyadh, Saudi Arabia, with the WBC, WBO and WBA titles on the line
sports1 hour ago
Masdar’s clean energy capacity rose from 20GW in 2022 to 31.5GW in 2023
business1 hour ago
Pakistan captain Shan Masood said they knew how to neutralise England's aggressive style
cricket1 hour ago
With this, the number of drug-related killings in Marseille has risen to 17 since the start of the year
europe1 hour ago
The soon-to-be-introduced personal wearable smart tracking device from Samsung is designed to be your constant companion for all things health and fitness
tech1 hour ago