White House Coordinator for Strategic Communications John Kirby has told reporters that "other OPEC nations told the US privately they felt coerced by Saudi Arabia to support production cuts."

  • According to Reuters, the US also told Saudi Arabia they should wait until next OPEC meeting to see how thing developed.
  • Kirby says that the "US showed analysis to Saudi Arabia showing there was no market basis to cut oil production."
  • Kirby's comments are latest in an increasingly bitter diplomatic standoff between Washington and Riyadh. The White House will launch a review of the US-Saudi bilateral relationship when Congress returns next month.
  • Saudi officials maintain that the cuts were designed to get ahead of a predicted demand slump, pointing at a tepid market reaction as approval of the production cut.
  • Senate Foreign Relations Committee Chair Bob Menendez (D-NJ) has called for a freeze in the US-Saudi relationship and Senator Richard Blumenthal (D-CT) and Rep. Ro Khanna (D-CA) have unveiled legislation to halt weapons sales to Saudi Arabia.
  • Blumenthal said: "The only apparent purpose of this cut in oil supply is to help the Russians and harm Americans. […] Now, we need to rebalance our relationship.”

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US: NSC Kirby: OPEC Nations "Coerced" Intro Oil Production Cut By Saudi Arabia

Last updated at:Oct-13 14:07By: Adam Burrowes
Political Risk Coverage+ 8

White House Coordinator for Strategic Communications John Kirby has told reporters that "other OPEC nations told the US privately they felt coerced by Saudi Arabia to support production cuts."

  • According to Reuters, the US also told Saudi Arabia they should wait until next OPEC meeting to see how thing developed.
  • Kirby says that the "US showed analysis to Saudi Arabia showing there was no market basis to cut oil production."
  • Kirby's comments are latest in an increasingly bitter diplomatic standoff between Washington and Riyadh. The White House will launch a review of the US-Saudi bilateral relationship when Congress returns next month.
  • Saudi officials maintain that the cuts were designed to get ahead of a predicted demand slump, pointing at a tepid market reaction as approval of the production cut.
  • Senate Foreign Relations Committee Chair Bob Menendez (D-NJ) has called for a freeze in the US-Saudi relationship and Senator Richard Blumenthal (D-CT) and Rep. Ro Khanna (D-CA) have unveiled legislation to halt weapons sales to Saudi Arabia.
  • Blumenthal said: "The only apparent purpose of this cut in oil supply is to help the Russians and harm Americans. […] Now, we need to rebalance our relationship.”

Related by topic

Political Risk Coverage
Global Macro Analysis
Political Risk Bullets
US
Political Market News
Energy Bullets
FX Bullets
Homepage Section
FI Bullets