Saudi Crown Prince Affirms Standing with UAE Against Iranian Aggression

Saudi Crown Prince Mohammed bin Salman confirmed that his country stands by the UAE following renewed Iranian attacks on it.

This came during a phone call between Mohammed bin Salman and UAE President Mohammed bin Zayed, according to the Saudi Press Agency (SPA), noting  that the crown prince expressed "the Kingdom's strong condemnation and denunciation of the unjustified Iranian aggressions that targeted the UAE."

The Saudi crown prince stressed that "the Kingdom stands by the UAE in its defense of its security and stability," explaining that during the phone call, they "reviewed regional developments and ways to enhance security and stability in the region," according to the same source.

First diplomatic activity after the UAE's withdrawal from OPEC

The Saudi news agency did not say whether the phone call referred to the UAE's withdrawal from OPEC.

The Saudi crown prince's call with the Emirati president comes as the first diplomatic activity between Riyadh and Abu Dhabi after the United Arab Emirates announced its withdrawal from OPEC and OPEC+ at the beginning of this May, in a move described as a blow to Saudi Arabia.

UAE Energy Minister Suhail Al Mazrouei yesterday refused to  answer  a question about the lack of public reaction from OPEC and Saudi Arabia to  the UAE's withdrawal on Monday, saying  that "OPEC's reaction to the decision to withdraw has been calm, and everyone is aware that it is a sovereign decision, and they understand that the UAE will be a responsible producer."

Sultan  Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC), said in a statement  on Monday that the UAE's sovereign decision to reposition itself in the global energy system and exit OPEC+ is "not directed against anyone", describing the decision as "strategic and deliberate and reflects our capabilities, confidence in our ability to build a more diversified economy and our ambition for a better future".

Saudi minister sends implicit message to UAE on oil

Saudi Energy Minister Abdulaziz bin Salman on Monday warned speculators and investors in global oil markets, stressing that the country will not tolerate any "gamble" on price stability, and  the minister said at an OPEC+ meeting: "Anyone who gambles in the oil market will be in great pain."

This statement came in the context of Saudi Arabia's efforts to maintain the balance of the global energy market, following recent fluctuations and challenges related to OPEC+ production, including recent developments related to the UAE's withdrawal from the organization.