Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud at the Future Sustainability Summit at Abu Dhabi National Exhibition Centre, January 14, 2020. © AFP / Karim Sahib
The Cradle: Saudi Arabia will cut oil supply of nations that impose price cap: Energy Minister
The Saudi official also criticized efforts by US lawmakers to pass the NOPEC bill, which would allow sovereign states to be sued in federal court
Saudi Energy Minister Prince Abdulaziz bin Salman on 14 March said that Riyadh will stop selling oil to any country that imposes a price cap on its supplies.
“If a price cap were to be imposed on Saudi oil exports, we will not sell oil to any country that imposes a price cap on our supply, and we will reduce oil production, and I would not be surprised if others do the same,” the senior Saudi official said in an interview published by Energy Intelligence.
Bin Salman stressed that price caps – whether imposed on a country or a group of countries – would lead to “individual or collective counter-responses with intolerable consequences in the form of massive volatility and instability.”
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Update #1: Saudi Arabia’s Energy Minister Slams NOPEC Bill And Price Caps (OilPrice.com)
Update #2: Saudi Arabia threatens oil embargo (RT)
WNU Editor: After since this agreement .... Iran And Saudi Arabia Agree To Restore Diplomatic Relations After Secret Chinese Mediation Efforts (March 10, 2023), I have noticed the Saudis acting very independently against the West.