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

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.”

By

World News

March 21, 2022 - 2:57 PM

DUBAI, United Arab Emirates (AP) — 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.”

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