Saudi Energy Minister Prince Abdulaziz bin Salman enthusiastically opposed policies to cap oil prices – apparently in reference to Western price caps on Russian oil – in an interview on Tuesday and asserted that Riyadh would not sell oil to any country that capped its oil’s price.
Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, said from the sidelines of the COP27 climate summit in Sharm el-Sheikh, Egypt on Friday that his country is being heavily targeted by activists for its leading role in oil production. “The world is hoping to crucify us,” he lamented.
Secretary of State Antony Blinken attempted to mend President Joe Biden’s increasingly strained relationship with Gulf states on Tuesday in a meeting with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan, following a conversation with Saudi Foreign Minister Prince Faisal bin Farhan.
Saudi Arabia raised its oil prices in markets across the world on Monday, in some cases to all-time highs, as many customers remain reluctant to buy deeply discounted oil from heavily-sanctioned Russia. The Organization of Petroleum Exporting Countries (OPEC) is due to meet on Thursday to discuss production for May, when analysts expect more price hikes could occur.
Saudi energy giant Aramco is ready for a two-stage IPO but the timing is up to the government, its chief executive said Tuesday, flagging a possible foreign listing as part of the offering.
