Saudi ministers criticise Russia over oil crisis

Saudi Arabia criticised Russia on Saturday, claiming Moscow had blamed the kingdom for the collapse in global energy prices.

The kingdom's criticisms come ahead of an emergency meeting of Organization of the Petroleum Exporting Countries (OPEC), and other oil producers, after a sharp fall in oil prices in early march.

Prices fell after OPEC countries, including Russia, failed to agree to production cuts, triggering a price war that led to Saudi Arabia threatening to pump at a record-breaking pace to seize back market share even as the coronavirus pandemic saw demand sharply drop as airlines worldwide halted flights.

The international benchmark for crude oil fell to around $24 a barrel in early 2020, compared to prices of over $70 a year ago.

While prices rebounded slightly with comments by U.S. President Donald Trump about the need for a production cut, it's thought disputes between Saudi Arabia and Russia could threaten a deal emerging from a planned teleconference Monday.

That anger could be seen early Saturday in two critical statements released by the kingdom's state-run Saudi Press Agency - the first, from Saudi Foreign Minister Prince Faisal bin Farhan under the headline: " Statements Attributed to One of Russian President's Media Are Completely Devoid of Truth."

"Russia was the one that refused the agreement, while the kingdom and 22 other countries were trying to persuade Russia to make further cuts and extend the agreement," the prince said.

A second statement came from Saudi Energy Minister Prince Abdulaziz bin Salman, one of King Salman's sons, criticising Russian Energy Minister Alexander Novak for suggesting Saudi Arabia wanted to cut out shale producers.