Riyadh will not sell oil to any country that decides to set a ceiling on Saudi supplies. This was expressed by Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia, writes. energy intelligence
Abdel Aziz bin Salman Al Saud said of NOPEC’s anti-cartel bill, “If Saudi oil exports are subject to restrictions, we will not sell oil to any country that has a ceiling on the price of our supply.” The Non-Oil Producing and Exporting Cartels Act suggests that the United States can file antitrust lawsuits against OPEC members and partners.
He added that he would later reduce oil production. He also said, “I wouldn’t be surprised if there are others. [государства] will do the same.”
According to the Riyadh representative, such a step would lead to an imbalance of supply and demand in the market for this resource.
Earlier, Under Secretary of the Treasury for Economic Policy, Ben Harris, at the American Enterprise Institute in March, when country officials handle Joint review with the EU of the functioning of the price cap mechanism for Russian petroleum products.
Saudi Energy Minister Prince Abdulaziz bin Salman declarationThe West’s price ceiling for Russian oil creates risks for the world energy market.
The decision to impose a ceiling price on Russian oil, adopted by the European Union countries, G7 countries and Australia, entered into force on December 5, 2022. The ceiling price has been set at $60 per barrel and will be reviewed regularly after January 15.