Saudi Energy Minister Prince Abdulaziz bin Salman did not single out the US in his comments about emergency stocks Fayez Nureldine AFP
RFI/AFP: Saudi blasts release of oil reserves 'to manipulate markets'
Riyadh (AFP) – Saudi Arabia's energy minister on Tuesday blasted the release of emergency oil stocks as an attempt to "manipulate markets", the latest apparent salvo in a spat with Washington over oil production.
"People are depleting their emergency stocks, had depleted it, used it as a mechanism to manipulate markets while its profound purpose was to mitigate shortage of supply," Prince Abdulaziz bin Salman told an investor conference in the Saudi capital.
"However, it is my profound duty to make it clear to the world that losing emergency stock may become painful in the months to come."
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WNU Editor: Talk about the tea pot calling the coffee kettle black.
U.S. and Saudi business leaders are saying relations will improve in the future between the US and Saudi Arabia .... US and Saudi Arabia Will Work Out Spat, Dimon and Falih Say (Bloomberg).
I disagree.
Saudi Arabia is establishing alternative alliances and economic relationships with other countries for the sole purpose of distancing themselves away from the US. I certainly do not see the Saudis changing this policy to placate the White House. Certainly not with the current US administration.
Update: This is going to irk some in Washington .... Saudi Arabia 'maturer guys' in spat with U.S. -energy minister (Reuters).