Saudi Arabia 'threatens' US over oil price conflict

Accordingly, the conflict broke out in October 2022, when Saudi Arabia cut oil production with Russia. This action strained the long-time alliance between the Gulf country and the US.

President Joe Biden and Crown Prince Mohammed bin Salman in Riyadh in 2022

The move angered US President Joe Biden, who had previously warned Saudi Arabia of the consequences. The White House feared that cutting supply would cause oil prices to rise, fueling inflation and impacting the upcoming US midterm congressional elections.

In response, Crown Prince Mohammed bin Salman reportedly used a threatening tone to the US about an economic disaster. According to The Washington Post , the crown prince said he "will no longer cooperate with the US administration" and warned of "major economic consequences for Washington", although it is unclear whether the threat was made directly to a US official, or because US intelligence intercepted internal discussions in Saudi Arabia.

Months later, the crown prince’s threat appears to have worked. The consequences Biden had promised have yet to materialize. Instead, the White House has dispatched a number of senior officials to Riyadh, as Saudi Arabia moves closer to China.

Most recently, US Secretary of State Antony Blinken traveled to Riyadh this week to meet with Crown Prince Mohammed bin Salman. A State Department spokesperson told CNN that the two men affirmed their shared commitment to promoting stability, security and prosperity in the Middle East and more broadly.

US says it will take action to punish Saudi Arabia for reducing oil supply

Business Insider on June 9 quoted analysts as saying that Saudi Arabia's actions were taken in the context of the country seeking a way to reduce its dependence on the US.

"Mohammed bin Salman wants Washington to know that the United States needs Saudi Arabia as much as the kingdom needs the United States. The crown prince wants Biden and everyone else in Washington to respect Saudi Arabia's sovereignty and right to make decisions to advance its national interests," said Giorgio Cafiero, CEO of Gulf State Analytics, a US geopolitical risk consultancy.

The leak represents the latest rift in the fraught relationship between the United States and Saudi Arabia, a key ally in the Middle East. During his campaign, Biden threatened Saudi Arabia over the murder of journalist Jamal Khashoggi in Türkiye.

Oil is a key factor in the relationship between the two countries. Saudi Arabia is the world's largest oil exporter. In a move that could further anger the US, Saudi Arabia decided last week to continue cutting oil production, saying it was to stabilize the oil market.

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