Turkey sides with KSA in clash with US over OPEC+ production
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Turkey’s Foreign Minister says that US "bullying" Saudi Arabia over the decision to cut oil production isn’t right.
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Turkey’s Foreign Minister Mevlut Cavusoglu
Turkey has backed Saudi Arabia in its escalating dispute with the United States over the OPEC+ decision to cut oil production.
Ankara's Foreign Minister Mevlut Cavusoglu commented on Friday that “we see that a country stands up and threatens Saudi Arabia," adding "This bullying is not right."
On October 5, the Organization of Petroleum Exporting Countries and its partners, a 23-nation alliance led by Saudi Arabia and Russia, decided to reduce output targets by 2 million barrels per day beginning next month.
Cavusoglu spoke just days after White House National Security Advisor Jake Sullivan said that the US would reconsider its security and military assistance to Riyadh in response to the decision.
Oil producers in West Asia have publicly backed Saudi Arabia, and Turkey adds another regional political heavyweight to its list of backers.
"The entire world needs Venezuela's oil and natural gas... On the other side, there have been embargoes on the Iranian oil," Cavusoglu noted.
“If you want the prices to go down then lift these sanctions,” Cavusoglu said.
“You can’t solve the problem by threatening one country,” he stressed.
The United States has claimed that OPEC+'s decision will harm the global economy and increase inflationary pressures. President Joe Biden, whose popularity is the lowest among the past 3 presidents, vowed that Saudi Arabia would face "consequences."
Riyadh has rebuffed US accusations, insisting that it aims to support the stability and balance of global oil markets.
"Turkey is not happy with the rising prices, but we’re not using a language of threat," Cavusoglu said. "The whole world needs Venezuela’s oil and natural gas. There is an embargo on Iranian oil."
A dollar-based relationship
Since Biden visited Saudi Arabia in July and met with Crown Prince Mohammed bin Salman, despite threatening to make the Kingdom an international "pariah" following the murder of journalist Jamal Khashoggi, the OPEC+ move to cut production was generally viewed as a diplomatic slap in the face.
It also comes at a critical time for Biden's Democratic Party, as it prepares for midterm elections in November, with rising consumer costs a prominent Republican talking point.
