• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Reality catching up with EV forecasts
  • 7 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 day 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 12 days The Federal Reserve and Money...Aspects which are not widely known
Space Politics: A Battle For Lunar Minerals Is Unfolding

Space Politics: A Battle For Lunar Minerals Is Unfolding

A competition is unfolding between…

U.S. Natural Gas Prices Crash By 7%

U.S. Natural Gas Prices Crash By 7%

United States natural gas prices…

Senior U.S. Senator Wants To Halt All Cooperation With Saudi Arabia

U.S. Democratic Senator Bob Menendez, who is chairman of the U.S. Senate Foreign Relations Committee, blasted Saudi Arabia for leading the OPEC+ group into announcing a cut in oil production and called for an “immediate” freezing of U.S. cooperation with the Kingdom, including arms sales.  

In a statement on the future of the U.S. relationship with Saudi Arabia following the deadly Russian attacks on cities across Ukraine on Monday, Senator Menendez said, “I pledge to use all means at my disposal to accelerate support for the people of Ukraine and to starve Russia’s war machine. That is why I also must speak out against the government of Saudi Arabia’s recent decision to help underwrite Putin’s war through the OPEC+ cartel.”  

“There simply is no room to play both sides of this conflict – either you support the rest of the free world in trying to stop a war criminal from violently wiping off an entire country off of the map, or you support him. The Kingdom of Saudi Arabia chose the latter in a terrible decision driven by economic self-interest,” Menendez added. 

ADVERTISEMENT

Last week, OPEC+ announced the biggest cut to its collective target since 2020. Despite insistence from Russia and all of OPEC+ that the production cut is based on technical market assessments and is aimed at “stability,” many analysts, as well as the White House, see the move as a political one.

The United States is considering “response options” in its relations with OPEC+ members and its de facto leader Saudi Arabia, U.S. Secretary of State Antony Blinken said after the group announced the cut.

ADVERTISEMENT

“As to the relationship going forward, we’re reviewing a number of response options. We’re consulting closely with Congress,” Secretary Blinken said last week.

Senator Menendez expressed on Monday his views on future cooperation with Saudi Arabia, saying “The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend U.S. personnel and interests.”

“As Chairman of the Senate Foreign Relations Committee, I will not green-light any cooperation with Riyadh until the Kingdom reassesses its position with respect to the war in Ukraine. Enough is enough,” he added.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News