Forty-Eight US House Republicans Call On Saudi Arabia To Reduce Oil Production - Letter

WASHINGTON (UrduPoint News / Sputnik - 09th April, 2020) Saudi Arabia should cut oil output in order for crude oil markets to stabilize, forty-eight Republican lawmakers in the US House of Representatives said in a letter to Saudi Crown Prince Mohammad bin Salman.

"We are concerned, however, with the Kingdom's actions to artificially distort global crude oil markets as countries around the world struggle to address a growing economic and health crisis fueled by the COVID-19 novel coronavirus pandemic" the letter said on Wednesday. "The Kingdom, however, can change course, reduce production, and restore balance to a market that has seen the most drastic price drop in years."

The lawmakers said if Saudi Arabia fails to address the energy crisis, it will jeopardize the US-Saudi partnership on economic and military matters.

Moreover, the lawmakers added that they will encourage the US government to prepare reciprocal responses against Saudi Arabia if it does not reverse its oil policy.

Earlier this week, US Senators Kevin Cramer and Dan Sullivan introduced legislation to remove US troops and defense systems from Saudi Arabia unless Riyadh reduces its oil output.

On April 9, an OPEC+ video conference will be held on the possibility of a new reduction in oil production to stabilize the market that will be followed by a meeting of the G20 energy ministers on energy market stability on Friday.