Saudi Arabia, on Thursday, voiced total rejection of the statements issued towards the Kingdom following the OPEC+ decision to cut oil production.
An official at the Foreign Ministry stated that the Saudi government has viewed the statements issued about the Kingdom following the OPEC+ decision announced on October 5, 2022.
These statements had accused the Kingdom of taking sides in international conflicts and that it was politically motivated against the US.
“The Saudi government would first like to express its total rejection of these statements that are not based on facts, and which are based on portraying the OPEC+ decision out of its purely economic context,” said a statement from the Ministry of Foreign Affairs.
“This decision was taken unanimously by all member states of the OPEC+ group,” it added.
“The Kingdom affirms that the outcomes of the OPEC+ meetings are adopted through consensus among member states, and that they are not based on the unilateral decision by a single country.”
“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 OPEC+ group makes its decisions independently in accordance with established independent practices followed by the international organizations,” affirmed the statement.
Saudi Arabia also clarified its belief in the importance of dialogue and exchange of views with allies and partners outside the OPEC + group regarding the situation in the oil markets.
“The Saudi government clarified through its continuous consultation with the US administration that all economic studies indicate that postponing the OPEC+ decision for a month, according to what has been suggested, would have had negative economic consequences,” explained the statement.
Saudi Arabia also affirmed that any attempts to distort the facts about the Kingdom’s position regarding the crisis in Ukraine are unfortunate, and will not change the Kingdom’s principled position, including its vote to support UN resolutions regarding the Russian-Ukrainian crisis.
The Kingdom stressed that while it strives to preserve the strength of its relations with all friendly countries, it affirms its rejection of any dictates, actions, or efforts to distort its noble objectives to protect the global economy from oil market volatility.
