A senior Saudi official said the country's decision last year to defy the U.S. and cut oil production solidified a new Saudi approach to world affairs that is not afraid to upset the White House, BI reported.

Foreign Minister Prince Faisal bin Farhan commented on the diplomatic spat with the U.S. last October after Saudi Arabia, along with Russia, announced oil production cuts.

At the time, the Biden administration believed it had struck a secret deal with the Saudis to increase production in an attempt to reduce inflation. U.S. officials and top Democrats were outraged by Saudi Arabia's decision, and the two countries exchanged accusations and insults. Saudi Arabia has always insisted that it made the decision for economic reasons.

Energy security is absolutely key. And here we in the kingdom feel that stability is the absolute key to this energy security, Prince Faisal said. 

Analysts say one of the reasons Biden did not carry out his threat to retaliate against Saudi Arabia was that oil prices did not rise as some had expected.