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Biden’s Advisor Assures US of Arab States’ Commitment to Avoiding Weaponising Oil
The White House’s chief energy adviser has said he is confident that Arab oil producers will not weaponise energy, despite mounting anger across the Middle East over Israel’s siege and bombardment of Gaza.
Amos Hochstein, the chief energy adviser at the White House, expressed optimism about the collaboration between the US and Gulf producers, including Saudi Arabia, and believes that it has been “very strong” in recent years. This confidence comes amid concerns about potential weaponization of oil given the violent conflicts in various parts of the world.
He further stated, “The collaboration and co-ordination between producers and consumers over the past couple of years has been very strong in trying to prevent energy shocks.”
Gulf state members of the Opec+ cartel have rejected calls for an embargo over Israel’s siege of Gaza. However, with oil prices hitting a four-month low last week, and growing unrest in the region, there is speculation of additional oil supply cuts, with Saudi Arabia leading the charge.
Amid the ongoing conflict, it is noted that the decisions of the leading Gulf state are driven by market conditions rather than political considerations, according to those close to Saudi Arabia’s thinking.
In an interesting turn of events, it is revealed that the US’s Arab allies, including Saudi Arabia, have been at odds with the Biden administration’s staunch support of Israel’s military offensive. However, both the US and Arab officials have hinted that in the long term, dialogue and cooperation are still possible.
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