DUBAI/WASHINGTON: Saudi Arabia said on Monday that it won’t bear any “responsibility” for a shortage in global oil supplies after a fierce barrage of attacks by Yemen’s Houthi rebels affected production in the kingdom, the world’s largest oil exporter.
The unusually stark warning marked a departure from the giant oil producer’s typically cautious statements, as Saudi officials remain aware that even their smallest comments can swing the price of oil and rattle global markets.
The state-run Saudi Press Agency quoted the Saudi Foreign Ministry as saying that the kingdom declares that it will not bear any responsibility for any shortage in oil supplies to global markets in light of the attacks on its oil facilities.
The announcement comes as the kingdom remains in lockstep with OPEC and other oil-producing countries in a deal limiting production increases
Gulf Arab oil producers have so far resisted pressure from the Biden administration to pump more crude to help bring down oil prices that have soared amid Russia’s war on Ukraine.
Already, gasoline prices have hit record highs around the world. Gas prices in the US topped $4.25 on Monday, according to auto club AAA, just below the historic record of $4.33 reached earlier this month.
The international community must assume its responsibility to preserve energy supplies,” the Saudi statement added, in order to deter attacks that jeopardize the kingdoms production capability and its ability to fulfill its commitments.”
The international oil benchmark Brent crude hovered over $112 a barrel in trading Monday, up more than 4pc for the preceding session. The price remained below a peak of nearly $140 hit earlier this month, but still some $15 a barrel more than before the Russian invasion of Ukraine.
Patriot missile supply
The US has transferred a significant number of Patriot antimissile interceptors to Saudi Arabia in recent weeks as the Biden administration looks to ease what has been a point of tension in the increasingly complicated US-Saudi relationship.
A senior administration official confirmed Sunday night that the interceptors have been sent to Saudi Arabia. The official said the decision was in line with President Joe Biden’s promise that America will have the backs of our friends in the region.
White House national security adviser Jake Sullivan on Sunday condemned Houthi forces in Yemen after they unleashed one of their most intense barrages of drone and missile strikes on Saudi Arabia’s critical energy facilities, sparking a fire at one site and temporarily cutting oil production at another.
The US had moved its own Patriot defence system from Prince Sultan Air Base outside of Riyadh even as the kingdom faced continued to face air attacks from Yemen’s Houthi rebels.
The kingdom has insisted that the interceptors are critical to their defense against Houthi attacks. The Saudis have been locked in a stalemate war with the Houthis since March 2015.
