Saudi Arabia calls OPEC+ decision ‘purely economic’

DOHA, Oct 12 – PRIME. The decision of the countries participating in the OPEC + deal to reduce oil production is purely economic in nature, it was adopted by the member states unanimously, Saudi Foreign Minister Faisal bin Farhan told Al-Arabiya and Hadas TV channels.

OPEC+ countries last week decided to cut oil production by 2 million barrels per day immediately from November, taking the levels agreed for August as a reference point. Earlier, White House press secretary Karine Jean-Pierre said that the United States is reviewing relations with Saudi Arabia, and President Joe Biden believes that they need to be changed. Washington blames the Saudi authorities for lobbying for the recent decision of OPEC + to cut oil production by 2 million barrels per day from November, despite calls from the American side not to do this, seeing this as Russia’s support.

“The countries participating in the OPEC+ agreement acted responsibly and made the appropriate decision. The OPEC+ decision is purely economic in nature, it was adopted by the countries unanimously. They seek to stabilize the market and ensure the interests of producers and consumers,” Ben Farhan said.

At the same time, the Foreign Minister stressed that “the kingdom’s relations with Washington are of a strategic nature and are aimed at maintaining security and stability in the region, and military cooperation between Riyadh and Washington is beneficial to both countries.” “Our relations with the United States have been institutional since their inception,” the minister added.