The capacity of Saudi Arabia to achieve energy security is no longer guaranteed: Prince Abdulaziz bin Salman, Minister of Energy1 min read
“Previously, we collaborated with our partners in the UAE to secure and ensure energy security. These pillars no longer exist”, the Minister stated.
Saudi Arabia’s oil minister warned on March 29 that markets are in a “jittery time” and that the kingdom’s capacity to provide energy security is no longer assured.
Cross-border assaults, according to Saudi Energy Minister Prince Abdulaziz bin Salman, have called into doubt the kingdom’s capacity to supply the globe with the essential energy. Yemen’s opposition Houthis, who are backed by Iran, carried out the strikes. Saudi Arabia has voiced its displeasure in public comments, claiming that it will bear no responsibility for oil supply constraints caused by the assaults. Crude oil prices have also risen as a result of a pact reached by major producers, led by Saudi Arabia and Russia, to reduce output. Critics of the proposal claim that Russia’s war in Ukraine is upsetting markets and driving up gas prices.
Yemen’s civil conflict has jolted these two Gulf Arab governments, exposing the fragility of their oil facilities. “We have prepared and given our side of the story,” Saudi Arabia’s Prince Abdulaziz bin Salman said. After Russia’s invasion of Ukraine, he continued, politics and energy policy should be separated.