Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salmon stated that the continued voluntary oil production cuts, which amounted to 1 million barrels a day for the Saudis, would continue at least one more month, into August. More importantly, he also made it clear the efforts signal the Kingdom’s support for its Russian ally.
Prince Abdulaziz said: “In the last move this week, yes, we are all continuing with our voluntary cut, but again, part of what we have had done with our colleagues from Russia was also to mitigate the cynical side of spectators about what was going on with Saudi Arabia and Russia.”
The move continues to fray already-frayed U.S.-Saudi relations and seems to indicate the continued movement of the House of Saud away from the West and towards Russia and China as U.S. power in the region continues to diminish, along with its credibility, especially under the Biden regime.
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Paul Collier
Paul Collier is the editor of The Freedomist newsite, our Weekday Reports, and our Monthly Publication, Freedomist Intelligence Advisor (previously McAlvany Intelligence Advisor). He has been involved in news publishing since 2003.
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