UN Palestine peace conference suspended amid regional escalation    Egypt advances integrated waste management city in 10th of Ramadan with World Bank support    Hyatt, Egypt's ADD Developments sign MoU for hotel expansion    Serbian PM calls trade deal a 'new page' in Egypt ties    Reforms make Egypt 'land of opportunity,' business leader tells Serbia    TMG climbs to 4th in Forbes' Top 50 Public Companies in Egypt' list on surging sales, assets    Egypt, Japan's JICA plan school expansion – Cabinet    Egypt's EDA, AstraZeneca discuss local manufacturing    Israel intensifies strikes on Tehran as Iran vows retaliation, global leaders call for de-escalation    Egypt issues nearly 20 million digital treatment approvals as health insurance digitalisation accelerates    LTRA, Rehla Rides forge public–private partnership for smart transport    Egyptian pound rebounds at June 16 close – CBE    China's fixed asset investment surges in Jan–May    Egypt secures €21m EU grant for low-carbon transition    Sisi launches new support initiative for families of war, terrorism victims    Egypt, Cyprus discuss regional escalation, urge return to Iran-US talks    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



US senators press Saudi officials to put oil cut in motion
Published in Ahram Online on 12 - 04 - 2020

Republican U.S. senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output.
Saudi Arabia and Russia were close to finalizing a deal with other producers in the informal OPEC+ group to cut crude output by a record 10 million barrels per day (bpd), or about 10% of global output.
Oil prices had fallen to 18-year lows as the coronavirus outbreak has closed down economies across the world and after Saudi Arabia and Russia boosted output in a race for market share.
The call was led by Senators Dan Sullivan and Kevin Cramer, who introduced legislation in March to remove U.S. troops, Patriot missiles and THAAD defense systems from Saudi Arabia unless it cut output.
There were 11 Republican senators on the nearly two-hour call, including Bill Cassidy, who introduced legislation last week to remove the U.S. troops in 30 days, a month faster than the previous legislation.
While the bills are unlikely to pass, the senators have played an unusual role in raising pressure on longtime ally Saudi Arabia, as President Donald Trump, a fellow Republican, has been in talks with Crown Prince Mohammed bin Salman urging him to boost output.
They spoke with Saudi Energy Minister Prince Abdulaziz bin Salman, Deputy Defense Minister Khalid bin Salman and the Saudi ambassador to the United States, Princess Reema bint Bandar bin Sultan.
Sullivan, of Alaska, applauded Saudi Arabia's taking part in the agreement to cut output, but said "actions speak louder than words."
"The Kingdom needs to take sustainable, concrete actions to significantly cut oil production, and it needs to do so soon," Sullivan said.
Saudi Arabia's action to boost production during a pandemic was "inexcusable" and "won't be forgotten," said Cramer, of North Dakota.
The United States, the world's top oil producer, is gradually cutting about 2 million bpd of output as reduced demand and low oil prices force some heavily leveraged producers into bankruptcy.
The push by Republican senators was a sign of how Congress could raise pressure on Saudi Arabia if it does not stick to the oil cut plan. If the kingdom does not cut output, pointed measures could be included later this year in must-pass legislation such as the annual defense policy bill.
In January, the United States had 2,500 military personnel in Saudi Arabia. In October 2019, Washington deployed about 3,000 troops there at a time of heightened tensions with Iran.
The Saudi embassy in Washington did not immediately respond to a request for comment.


Clic here to read the story from its source.