Saudi rebuffs US over oil production cut

Saudi Arabia has told US that postponing OPEC+ decision to cut production is negative for the world.

Members of the Organization of Petroleum Exporting Countries and their allies agreed to cut supply by 2 million barrels a day on Oct. 5.

The Kingdom also rejected statements criticizing it after last week’s OPEC+ decision to cut oil supply.

President Joe Biden, who is attempting to stop Russia profiting from energy sales to limit President Vladimir Putin’s war in Ukraine, had called the decision “shortsighted” after the alliance announced the cuts in Vienna.

The statement by Saudi Foreign Ministry said criticism that the Kingdom was taking sides in international conflicts or had supported the cuts for political reasons against US were not based on facts and took OPEC+ decision out of its economic context.