Saudi Arabia: "OPEC+ Production Cuts Are the Right Decision... Cooperation with the US Benefits Both Countries"

"Purely Economic Decision, Not Political Move" Emphasized
US Strongly Opposes Production Cuts... Biden Says "Reviewing Relations"

[Image source=EPA Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Saudi Arabia has come out in defense of the OPEC+ decision to cut oil production, which has sparked backlash from the United States. As U.S. President Joe Biden has directly stated that he will reconsider relations with Saudi Arabia, U.S. pressure has intensified, prompting a direct response. Within U.S. political circles, especially among the ruling Democratic Party, voices are growing calling for the severance of military cooperation with Saudi Arabia.

On the 11th (local time), Saudi Foreign Minister Faisal bin Farhan defended the recent OPEC+ oil production cut decision in an interview with the UAE media outlet Al Arabiya, stating, "The recent OPEC+ oil production cut decision was purely an economic decision, not a political consideration, and it was the correct decision adopted unanimously." He added, "The strategic cooperative relationship between the U.S. and Saudi Arabia benefits both countries."

This statement came shortly after President Biden expressed dissatisfaction with OPEC+’s production cut measures and announced that he would reconsider the relationship. Earlier, in an interview on CNN’s ‘CNN Tonight with Jake Tapper,’ President Biden said, "I think it’s time to ‘rethink’ the relationship between the U.S. and Saudi Arabia," adding, "I am already in that process, and Congress also has work to do. There will be consequences for their support of Russia."

President Biden’s direct expression of dissatisfaction with Saudi Arabia is analyzed as a result of growing discontent within and outside U.S. political circles after Saudi Arabia ignored U.S. requests to delay the production cut decision and proceeded with it. The Wall Street Journal (WSJ) reported on the same day, citing sources, that "Saudi Arabia ignored U.S. requests to delay the oil production cut decision and led a larger-than-expected production cut."

According to WSJ, the U.S. government promised Saudi Arabia, which was concerned about falling oil prices, a large-scale oil purchase to replenish its strategic reserves if Brent crude prices fell to $75 per barrel, but this proposal was also reportedly rejected.

In the U.S., not only the Biden administration but also voices centered around the Democratic Party are calling for the suspension of military cooperation with Saudi Arabia. According to Politico, Robert Menendez, Chairman of the Senate Foreign Relations Committee and Democratic Senate Majority Whip, issued a statement the day before strongly criticizing Saudi Arabia, saying, "Saudi Arabia is helping Russia, which invaded Ukraine, through its oil production cuts," and demanded that the Biden administration "halt all security cooperation with Saudi Arabia, including arms sales."

This content was produced with the assistance of AI translation services.