Saudi Arabia's Minister of State for Foreign Affairs Adel al-Jubeir said Saudi Arabia is cooperating with Russia to stabilize markets. Saudi Arabia's Minister of State for Foreign Affairs Adel al-Jubeir said this in an interview with CNN, refuting that there are political motives behind OPEC+'s decision to cut oil production.

Last week, OPEC+, the oil cartel led by Saudi Arabia and Russia, agreed to cut production by 2 million barrels a day, twice what analysts had predicted, the biggest cut since the Covid-19 pandemic.

The move was made despite an intense pressure campaign by the United States. Experts also fear that continued high oil prices could make it difficult for the U.S. to contain inflation, which has already soared this year.

Al-Jubeir denied there was any political motive in the decision and said the production cut was made to avoid significant fluctuations in oil prices that could affect consumers around the world, and pointed to the fact that the price of oil has gone down.

Saudi Arabia is not on Russia's side, he told CNN. 

audi Arabia is taking the side of trying to ensure the stability of the oil markets.  Saudi Arabia does not politicize oil, he added.