Saudi Arabia says it’s not responsible for high oil prices

KIFI

Published March 21, 2022 5:43 AM

By ISABEL DEBRE
Associated Press

DUBAI, United Arab Emirates (AP) — Saudi Arabia says it won’t bear any responsibility for a shortage in global oil supplies after attacks by Yemen’s Iran-backed Houthi rebels affected the kingdom’s production. The statement on Monday was carried by the state-run Saudi Press Agency. The unusually stark warning marked a departure from the giant oil producer’s typically cautious statements. Saudi officials remain aware that even their smallest comments can swing the price of oil and rattle global markets. Yemen’s rebels on Sunday launched a series of attacks targeting the kingdom’s oil and natural gas production. Benchmark Brent crude oil stood at over $112 a barrel in trading Monday.

Article Topic Follows: AP National Business

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