Saudi Arabia says it’s not responsible for high oil prices

Saudi Arabia says it “won’t bear any responsibility for any shortage in oil supplies to global markets” after attacks by Yemen‘s Iran-backed Houthi rebels affected the kingdom’s production. Saudi Arabia made the announcement in a statement on Monday carried by the state-run Saudi Press Agency.

It quoted the Foreign Ministry as saying that “the international community must assume its responsibility to maintain energy supplies” in order to “stand against the Houthis.”

On Sunday, Yemen’s rebels launched a series of attacks targeting the kingdom’s oil and natural gas production.

Benchmark Brent crude oil stood at over USD 112 a barrel in trading Monday.

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