Saudi's ‘Won’t Sell Oil’ warning to U.S. if Biden imposes Russia-like price cap

The U.S. is on the verge of losing a major oil supplier. This comes in the wake of the revival of the NOPEC bill by a group of bipartisan U.S. senators earlier this month. Saudi Energy Minister Prince Abdulaziz bin Salman has now warned of an oil embargo in the event of a price cap on Kingdom's supplies. “The price ceiling, whether imposed on a country or a group of countries, and on oil or any other commodity, will lead to an adverse reaction individually or collectively, with unacceptable repercussions represented by large volatility and instability in the markets,” said Prince Abdulaziz bin Salman in an interview with Energy Intelligence published by the Saudi Press Agency. Watch this video for more details.