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Saudi, UAE back OPEC cuts as U.S. envoy warns of 'uncertainty'

Saudi, UAE back OPEC cuts as U.S. envoy warns of 'uncertainty'

BNN Bloomberg
Tuesday, November 01, 2022 04:08:59 AM UTC

Saudi Arabia and the United Arab Emirates defended on Monday a decision by OPEC and its allies to cut oil production, even as an American envoy warned of “economic uncertainty” ahead for the world.

While cordial, the comments at the Abu Dhabi International Petroleum Exhibition and Conference showed the stark divide between the United States and Gulf Arab countries it supports militarily in the wider Middle East. Already, American politicians have threatened arms deals with the kingdom and described it as siding with Russian President Vladimir Putin amid his war on Ukraine.

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, hinted at that in brief remarks at the event.

“We don’t owe it to anybody but us,” the prince said to applause, noting that upcoming U.N. climate change summits will be held in Egypt and the United Arab Emirates. “It was done for us, by us, for our future, and we need to commit ourselves to that.”

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