04.13.20

ICYMI: Sullivan Talks OPEC+ Oil Production Agreement on CNBC’s Squawk Box

WASHINGTON, DC – U.S. Senator Dan Sullivan (R-Alaska) joined CNBC’s Squawk Box this morning to discuss an agreement reached yesterday between Saudi Arabia, Russia, the United States, and many other global oil producers to quickly and dramatically reduce production to stabilize global crude oil prices. This agreement involves 23 countries committing to collectively withhold 9.7 million barrels a day of oil from global markets.

BACKGROUND:

  • On March 16, Senator Sullivan, Senator Kevin Cramer (R-N.D.) and eleven other senators sent a letter to Saudi Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud urging the Kingdom of Saudi Arabia to halt its destabilizing actions as the rest of the world struggles with the economic impacts of the coronavirus pandemic. Sullivan and Cramer reiterated the call in a discussion with the Saudi Ambassador to the United States later in the same week. 
  • On March 20, Senator Sullivan joined a letter with Senator Jim Inhofe (R-Okla.) to U.S. Secretary of Commerce Wilbur Ross urging him to investigate excessive dumping of oil by Russia and Saudi Arabia.

  • On March 26, Senators Sullivan and Cramer, both members of the Senate Armed Services Committee,introduced legislation to remove U.S. Armed Forces from Saudi Arabia. 

  • On April 3, Senators Sullivan and Cramer attended a meeting at the White House with President Donald Trump and energy leaders, and released the following video afterward. 
  • On April 11, Senators Sullivan and Cramer led a nearly two-hour call between a group of senators and Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman Al Saud, and Deputy Defense Minister, Khalid bin Salman bin Abdulaziz Al Saud to highlight the importance of securing an agreement and following through on it.

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