PanamaTimes

Thursday, Feb 29, 2024

US Democrats rally against Saudi Arabia, UAE after oil cuts

US Democrats rally against Saudi Arabia, UAE after oil cuts

Riyadh defends decision to curb oil output, saying move aims to stabilise the oil market, not drive up prices.

Democratic members of the United States Congress are rallying against Saudi Arabia and the United Arab Emirates over oil production cuts, and calling on President Joe Biden to pressure the Gulf partners to reverse their decision.

OPEC+, which brings together the Organization of the Petroleum Exporting Countries (OPEC) and other producers, namely Russia, announced the curbs this week in a move that will likely push up petrol prices for US consumers ahead of crucial midterm elections.

That prospect has spurred criticism of Riyadh and Abu Dhabi — key players in OPEC+ — especially from Democrats who may suffer politically from higher costs at the pump.

Three Democratic Congress members also introduced a bill seeking the removal of US troops and missile defence systems from Saudi Arabia and the UAE. The measure is unlikely to pass, but it highlights the growing frustration in Washington.

US representatives Tom Malinowski, Sean Casten and Susan Wild described the oil cuts as “a hostile act against the United States and a clear signal that [Saudi Arabia and the UAE] have chosen to side with Russia in its war against Ukraine”.




“Both countries have long relied on an American military presence in the Gulf to protect their security and oil fields,” they said in a joint statement on Wednesday.

“We see no reason why American troops and contractors should continue to provide this service to countries that are actively working against us. If Saudi Arabia and the UAE want to help [Russian President Vladimir] Putin, they should look to him for their defense.”

Congressman Matt Cartwright, a Pennsylvania Democrat, also voiced support for the bill, saying the oil cuts would “empower Putin”. “As a nation, we need to reevaluate our relationship with the Saudis and remind them who the superpower is,” he said in a statement on Thursday.

OPEC+ said on Wednesday that a deal had been reached to cut oil production by two million barrels per day, with UAE Minister of Energy Suhail al-Mazrouei saying the decision was “technical, not political”.

The announcement spurred a jump in global oil prices, which had been decreasing in recent months after reaching record levels in the aftermath of Russia’s invasion of Ukraine in February.

The oil group said the decision came in “light of the uncertainty that surrounds the global economic and oil market outlooks, and the need to enhance the long-term guidance for the oil market”.

Saudi Energy Minister Abdulaziz bin Salman told Bloomberg on Wednesday that the cuts were a proactive measure to stabilise the market amid global economic uncertainties, including interest rate hikes and prospects of a global recession.




The Saudi minister also stressed that the aim is not to “jack up” prices. “That is not on our radar, our [aim] is to make sure that we sustain the markets,” he said.

Some of Saudi Arabia’s supporters also have argued that the security relationship between Washington and Riyadh is mutually beneficial — not a favour from the US.

Still, many US Democrats continue to see the oil production cuts as a slight against Washington, especially only a few months after Biden visited Saudi Arabia and met with its top leaders, including powerful Crown Prince Mohammed bin Salman.

For its part, the White House voiced “disappointment” at the cuts, but Biden denied on Thursday that his July visit to the kingdom was about oil.

“The trip was not essentially for oil. The trip was about the Middle East and about Israel and rationalisation of positions,” he said.

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×