The United States should not tell Saudi Arabia how to manage its crude oil production, Kremlin spokesman Dmitry Peskov said on Friday.
“Saudi Arabia is a sovereign state, a responsible state, and a very important player in the international energy markets. Of course, this sovereign state is capable of making decisions that concern its own economy. Hardly anyone, even the US, should lecture (Saudi Arabia) on how to be in this or that case,” Peskov said in a Moscow press briefing on Friday.
Saudi Arabia voluntarily agreed over the weekend to cut the country’s crude oil production targets for the month of July by an additional 1 million barrels per day. President Biden did not make any noteworthy response to the decision, with oil prices only briefly rallying in response to the oil production curtailments.
Peskov’s rebuke, then, does not follow any new backlash from U.S. President Joe Biden. A rather way back response to OPEC’s oil cuts came in October 2022, when President Biden threatened “consequences.”
In the same press briefing, Peskov also said that its Russian atomic energy sector would continue developing despite the US and UK forming a new economic alliance that looks to box out Russia from the international nuclear energy markets. Peskov referred to the situation as “unfair competition.”
Source : Oil Price
