Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.