Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Our Strategy
Financials
Overview
Quarterly Reports 2010
Annual Report 2009
Annual Report 2008
Annual Report 2007
Annual Report 2006
Annual Report 2005
Annual Report 2004
Annual Report 2003
Annual Report 2001
Previous Quarter Results
Pillar Disclosures
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Investor Relations
Financial News
FinancialNews
16-10-22
Saudi Arabia informs US delaying OPEC+ oil cut decision causes negative outcome worldwide
(MENAFN) Saudi Arabia has informed the US that delaying the verdict by the Organization of the Petroleum Exporting Countries and its allies to reduce output would have been harmful for the whole world, the foreign ministry mentioned in an announcement.
The organization, recognized as OPEC+, approved to reduce provision by 2 million barrels per day on the 5th of October.
US leader Joe Biden, who is trying to block profits from Russia from energy trades to control Russia’s attack on Ukraine, named the verdict “shortsighted”, and vowed “there will be consequences” for Saudi-US ties, without elaborating what his government plans to do.
In reply, the Saudi Foreign Ministry stated that accusations that the Kingdom was taking sides in worldwide wars or had backed the reductions for political motives in contradiction of the US were not along with facts and that the US took the OPEC+ verdict out of its financial framework.
The announcement also mentioned that “The Kingdom clarified through its continuous consultation with the US Administration that all economic analyses indicate that postponing the OPEC+ decision for a month, according to what has been suggested, would have had negative economic consequences.”
MENAFN16102022000045014228ID1105026740
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us