In an interview with Al Arabiya channel, the foreign minister explained that the Organization of Petroleum Exporting Countries (OPEC) seeks to stabilize the market to satisfy the interests of producers and consumers.
‘The OPEC+ members acted responsibly and made the right decision,’ bin Farhan stressed that this is not a political move.
The statements by the senior Saudi official come at a critical time in relations with the United States after President Joe Biden announced on Tuesday that he will review relations with the Kingdom of Saudi Arabia, one of its most powerful allies in the Middle East, for approving the reduction of crude oil as an alleged move to favor Russia.
‘I’m not going into what I would consider or what I have in mind. But there will be … there will be consequences,’ the US president said in an interview with CNN.
Farhan, for his part, in his remarks, described Saudi Arabia’s ties with the United States as strategic for supporting security and stability in the region.