Saudi Arabia's recent moves to provide aid to Ukraine and its vote at the United Nations condemning Russia's annexation of Ukrainian territory are positive developments, but do not compensate for the “wrong” decision by OPEC+ to cut oil production, US Secretary of State Antony Blinken said.
OPEC+, the oil producer group comprising the Organization of the Petroleum Exporting Countries (Opec) plus allies including Russia, announced the production target after weeks of lobbying by US officials against such a move.
Speaking at an event on Wednesday organised by Bloomberg, Blinken repeated the US position that Washington was going to re-evaluate the relationship with Saudi Arabia in a “very deliberate” fashion to make sure it better reflects American interests.
But he added that the US has seen “a few interesting things” from Saudi Arabia since the OPEC+ decision.
Blinken specifically referred to Riyadh's decision to provide $400 million in humanitarian aid to Ukraine and its vote at the United Nations General Assembly last week condemning Russia's annexation of four partly occupied regions in Ukraine.
“These are positive developments. They don't compensate for the decision that was made by OPEC+. ... But we'll take note of that,” Blinken said.
A day after the October 12 decision by OPEC+ oil producers to impose output cuts despite US objections, President Joe Biden, concerned that gasoline prices will spike ahead of the Nov. 8 midterm elections, vowed to impose “consequences” on Saudi Arabia for siding with Russia in supporting the cuts.
