In the event of a price cap on Saudi oil exports, Riyadh will refuse to supply raw materials to countries that have set a price ceiling, Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud said in an interview with Energy Intelligence.
“If there is a cap on the price of exports of Saudi oil, we will not sell oil to any country that sets a price ceiling on our supplies,” the prince stressed, adding that Saudi Arabia would cut oil production.
We are talking about the anti-cartel law NOPEC (No Oil Producing and Exporting Cartels Act), which, if adopted, will allow the United States to bring antitrust claims against OPEC countries and their partners. Congress has made several attempts to pass this bill over more than two decades. The latest attempt was made last year, after Saudi Arabia, Russia and other OPEC+ countries agreed in October to cut oil production by 2 million barrels per day. Last week, a bipartisan group of US senators re-introduced the bill.
Source: Rosbalt
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