OPEC+ oil output cut: Saudi Arabia coerced dissenting countries into backing its plan to slash production, the White House says

  • Date: 14-Oct-2022
  • Source: Business Insider
  • Sector:Oil & Gas
  • Country:Saudi Arabia
  • Who else needs to know?

OPEC+ oil output cut: Saudi Arabia coerced dissenting countries into backing its plan to slash production, the White House says

Saudi Arabia pushed other OPEC nations to support huge oil output cuts, the White House said.

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Saudi Arabia put pressure on other OPEC members that opposed deep oil output cuts to back its plan, the White House reportedly said, as a war of words between the countries intensifies.

John Kirby, a top spokesman for the US National Security Council, said Thursday the US had spoken to Saudi Arabia ahead of the decision, to say it would be a move in the wrong direction.

"We presented Saudi Arabia with analysis to show that there was no market basis to cut production targets, and that they could easily wait for the next OPEC meeting to see how things developed," Kirby said in a statement posted to Twitter by a CNN reporter.

"Other OPEC nations communicated to us privately that they also disagreed with the Saudi decision, but felt coerced to support Saudi's direction,"