Prince reminds Hillary Clinton that Saudi Arabia is a sovereign country
The Prince also expressed his strong displeasure regarding the comments made by Hillary Clinton, the former US secretary of state, on NBC’s “Meet the Press”, where she supported the idea of a “carrot-and-stick” approach to force Saudi Arabia to increase its share of oil production.
“We are not schoolchildren to be treated with a carrot and stick. We are a sovereign country, and when we are dealt with fairly and squarely, we respond likewise, ” added Al-Faisal.
OPEC+ trying to stabilize the oil market
Al-Faisal also added that OPEC+ members are always trying to stabilize the oil market.
“The Kingdom and the other OPEC members, and the OPEC+ members are sticking to the production quotas that they have assigned themselves. The recent decision by OPEC+ to increase incrementally oil production is in response to the present difficulties that people have in the energy sector,” asserted Al-Faisal.
Meanwhile, OPEC+ is likely to stick to its existing deal and agree to another 432,000 barrel per day output target increase for June as it meets on May 5, Reuters reported citing confidential sources familiar with the matter.
Last month, OPEC told the International Monetary Fund’s steering committee that the surge in oil prices was due to the Ukraine crisis, hinting that the producer group would not take further action to increase supply.
