The Ministry affirmed the UAE’s full support for the Kingdom of Saudi Arabia in its efforts to achieve energy stability and security…reports Asian Lite News
The UAE has expressed support for the statement by the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia regarding reviewing the status of oil markets and reducing production, noting that the decision was collective and based on the vote of OPEC+.
In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) underscored that the UAE, as a member of the group and a partner of the Kingdom of Saudi Arabia, affirms the technical nature of the decision and rejects statements that push for its politicisation. The Ministry also underscored the need for constructive dialogue that serves the interests of all countries.
The Ministry affirmed the UAE’s full support for the Kingdom of Saudi Arabia in its efforts to achieve energy stability and security in a manner that serves the interests of producers and consumers and promotes economic growth and development worldwide.
Meanwhile, US President Joe Biden believes that it is time for Washington to rethink its relations with Saudi Arabia after the latter’s action that lead the OPEC cartel to cut oil production which threatens to spike gas prices in the winter before the crucial November 8 mid-term elections to the 435-member House of Representatives.
In an interview with CNN, Biden said: “I am in the process, when the House and Senate gets back, they’re going to have to, there’s going to be some consequences for what they’ve done with Russia.”
The decision by the Saudi-led OPEC oil cartel to cut production prompted anger at the White House, where officials said Biden was personally disappointed by what they called a “shortsighted” decision.
The move, which came three months after Biden visited Saudi Arabia and met Crown Prince Mohammed bin Salman, has the potential to raise gas prices in the weeks ahead of November’s midterm elections.
“Let’s get straight why I went… I didn’t go about oil; I went about making sure that we made sure that we weren’t going to walk away from the Middle East,” Biden told CNN.
