Saudi Arabia, United States clash over reason for OPEC+ oil cut

CAIRO: Saudi Arabia rejected as “not based on facts” criticism of an OPEC+ decision last week to cut its oil production target despite the US objections, and said on Thursday that Washington’s request to delay the cut by a month would have had negative economic consequences.

The White House pushed back against that on Thursday, saying it presented the Saudis with an analysis that showed the cuts could hurt the world economy. The back-and-forth has added to what has already been a frosty period of relations for the two countries, who have had an energy-for-security alliance for decades.

OPEC+, the producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) plus allies including Russia, last week announced a cut of 2 million barrels per day to its production target after weeks of lobbying by U.S. officials against such a move.