OPEC members back Saudi Arabia in dispute with US
The oil cartel and Russia recently agreed to a significant oil production cut, leading to public criticism from the United States.
Several Middle Eastern member states of the Organization of the Petroleum Exporting Countries (OPEC) issued statements yesterday defending their recent decision to cut oil production. The United Arab Emirates' energy minister said that the move was not motivated by politics.
“I would like to clarify that the latest OPEC+ decision, which was unanimously approved, was a pure technical decision, with NO political intentions whatsoever,” tweeted Suhail Mohamed AlMazrouei.
Iraq’s State Organization for Marketing Oil also released a statement reading that OPEC+ decisions are “based on economic indicators.”
The official Kuwait News Agency reported that the Kuwait Petroleum Corporation “welcomes” the OPEC+ decision. Oman and Algeria also publicly backed the production cut.
