Saudi Arabia said on Monday that “it will not take any responsibility for the lack of supply of oil in the global market.” The statement came after Saudi oil production was disrupted by Yemen’s attack by Iran-backed Houthi rebels. .
Saudi’s remarks come amid ongoing talks with OPEC and other oil-producing countries to control the rise in fuel prices and production growth due to the Russian attack on Ukraine. The situation at the moment is that people in America are paying a record price for gasoline (vehicle fuel) at the pumps.
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What did the Saudi Press Agency say?
The state-run Saudi Press Agency quoted the foreign ministry as saying that “the international community should bear its responsibility to maintain the energy supply for the fight against the Houthi”.
The statement said that repeated attacks by the Houthiians “are affecting Saudi Arabia’s production capacity and its ability to fulfill its promises (in terms of oil production and supply)”. The security and stability of the energy supply in the market is being threatened.
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US$ 112 per barrel crude oil
On Monday, the price of benchmark Brent crude oil had crossed USD 112 per barrel in buying and selling. Yemeni rebels launched a series of attacks on Sunday targeting Saudi Arabia’s oil and natural gas production. Saudi Arabia’s energy ministry said the attack on the Yanbu petrochemicals complex on the Red Sea coast had caused a temporary reduction in oil production.