A group of nearly 50 US House Republicans led by Steve Scalise told Saudi Crown Prince Mohammed bin Salman today that economic and military cooperation between the two countries is in jeopardy unless the kingdom helps to stabilize oil prices by cutting crude output.
Saudi Arabia is artificially manipulating oil markets—and American energy workers are paying the price. My colleagues and I urged the Kingdom to quit flooding the markets with cheap crude. We need stability from our partners right now.
Saudi Arabia is artificially manipulating oil markets—and American energy workers are paying the price.
— Steve Scalise (@SteveScalise) April 8, 2020
My colleagues and I urged the Kingdom to quit flooding the markets with cheap crude. We need stability from our partners right now.
Read our letter ↓ https://t.co/sIsshIh3pc
The letter states, “If the Kingdom fails to act fairly to reverse this manufactured energy crisis, we would encourage any reciprocal responses that the U.S. government deems appropriate. The Kingdom, however, can change course, reduce production, and restore balance to a market that has seen the most drastic price drop in years.”
“Our countries share decades of deep cooperation and leadership combating and defeating existential threats. It is our hope that those characteristics that have defined our strong strategic partnership for years will continue to serve as the bedrock through this current crisis. We hope that as a global energy leader, and Chair of the G20 for 2020, the Kingdom will fulfill its promise and take immediate action to do its part to bring stability – not further volatility – to global crude oil markets.”
Alaskan Rep Don Young was one of those who signed and he tweeted out a message as well saying “a global health crisis is no time to be manipulating oil markets, but Saudi Arabia is doing just that.”
A global health crisis is no time to be manipulating oil markets, but Saudi Arabia is doing just that. Today, I joined a letter to Crown Prince Mohammad bin Salman, urging him to stop manipulating our markets, and to help ensure global stability. Read our full letter⬇️ https://t.co/hggnTwM2b9
— Rep. Don Young (@repdonyoung) April 8, 2020
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