Adel Al-Jubeir, Saudi Minister of State for Foreign Affairs, said in an interview with CNN anchor Wolf Blitzer, that Saudi Arabia “has made it clear over the past decades that it seeks to ensure market stability and that it is looking at the basics of supply and demand and that it is working within OPEC and now within OPEC Plus to ensure supplying The markets are sufficiently supplied with crude oil,” stressing that the US President did not pressure his country’s government to increase its oil production, and indicated Saudi Arabia’s keenness “to maintain stability in the markets.”
Al-Jubeir, when asked if Biden had asked Saudi Arabia to increase oil production in the hope that it would lower the price of fuel in the United States, replied, “Not that specific, because Mr. President knows that the energy issue is regarding supply and demand. It’s an issue of market balance. Saudi Arabia is committed. By ensuring stability in the oil markets The US government is aware of this The issue of the fuel price increases we’ve seen recently is really more regarding geopolitical and psychological factors than it is regarding basic demand and supply The fuel problem in the US is more a result of a lack of refining capacity than Crude oil shortage.
As for Saudi Arabia’s readiness to increase its oil production, Al-Jubeir said, “Saudi Arabia has made it clear over the past decades that it seeks to ensure market stability, that it is looking at the basics of supply and demand, and that it is working within OPEC and now within OPEC Plus to ensure that the markets are adequately supplied with crude oil.” “Saudi Arabia has significantly increased its oil production over the past year in accordance with market demands and this is a situation that is constantly evaluated by our Ministry of Energy and experts in the field to determine if more oil is needed,” he added.
Al-Jubeir stressed that “the president (Biden) does not pressure us on this issue, and he realizes that Saudi Arabia is keen to maintain stability in the markets. The president did not come here to pressure Saudi Arabia. The president came here to hold a meeting with one of America’s most important allies in the world and in The region We are facing common challenges that we need to work together to overcome There are many opportunities available to us that we want to take advantage of He has come here to consult on various issues and how we can move forward in order to ensure that the next 80 years are as positive as the eight past in our relationship.
