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Please note!
This fact brief was originally published as an experiment to test the concepts behind fact briefs.
Readers should be aware that while there is still a lot of useful information in fact briefs like this one, not all of them reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date, don't hesitate to contact us at support@gigafact.org.

Is Saudi Arabia contributing to rising oil prices?

By Lisa Freedland
YES

Saudi Arabia, the world's second largest oil producer behind the U.S., is refusing, along with the rest of OPEC, to increase oil production, contributing to ongoing supply, and by extension, price pressures.

Pandemic-related supply-chain disruptions, rebounding post-lockdown demand and the oil embargo imposed on Russia following its invasion of Ukraine have driven the oil-price spike. 

Saudi Arabia has indicated it will not help ease these pressures, declining to arrange calls with President Biden. U.S.-Saudi relations are strained due to the revival of the Iran nuclear deal, U.S. withdrawal of support for the Saudi intervention in Yemen’s civil war and the murder of Jamal Khashoggi. Relations were better under Trump, who persuaded Saudi Arabia to increase production in 2018.

Saudi Arabia "won't bear any responsibility" for the shortages, citing production capacity issues due to a Houthi attack on its oil infrastructure.

This fact brief is responsive to conversations such as this one.
ABOUT THE CONTRIBUTOR
Between 2020 and 2022, under close editorial supervision, Gigafact contracted a group of freelance writers and editors to test the concepts for fact briefs and provide inputs to our software development process. We call this effort Gigafact Foundry. Over the course of these two years, Gigafact Foundry writers published over 1500 fact briefs in response to claims they found online. Their important work forms the basis of Gigafact formats and editorial guidelines, and is available to the public on Gigafact.org. Readers should be aware that while there is still a lot of relevant information to be found, not all fact briefs produced by Gigafact Foundry reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date and need to be looked at with fresh eyes, don't hesitate to contact us at support@gigafact.org.
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