Saudi Arabia threatens US domination over oil markets – Middle East Monitor

Half a lots US legislators charged Saudi Arabia of incoming “warfare” versus US prominence over the international power market.

In a letter that was authorized as well as sent out to the US Secretary of State Mike Pompeo, the legislators composed: “The Kingdom of Saudi Arabia and the Russian Federation have embarked upon economic warfare against the United States.”

They included: “During this time of pandemic and global economic crisis, the Kingdom of Saudi Arabia has chosen to settle scores in the oil market.”

The US legislators validated that: “Riyadh’s motivation may be multi-faceted – to punish the Russians, to capture near-term market share, to destabilise long-term investment in American energy – but the end result is the same.”

“Our nation’s energy dominance, which President Trump has carefully nurtured over the past three years, is now under direct threat from a country that professes to be our ally.”

Saudi Arabia filled the marketplace with oil after Russia had actually declined to lower its result in order to secure the costs after the reduced need, because of the international break out of the coronavirus.

READ: Saudi Arabia rejects call with Russia to equilibrium oil markets

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