US media: decision to cut production annoys the United States Saudi officials deny weaponizing oil

According to a CNN website on October 12, Saudi Minister of State for Foreign Affairs Adel al-Jubeir said that Saudi Arabia cooperated with Russia to reduce oil production to stabilize the market, and denied that there was a political motive
behind this decision.
The decision to cut production has angered U.
S.
leaders and sparked calls
to reconsider relations with Riyadh.

In an interview with CNN on October 12, Jubeil said: "We are trying to make sure that there is no price fluctuation
.
We have been working hard to keep the oil market stable
.
”

Last week, the Saudi Arab- and Russian-led OPEC+ agreed to cut output by 2 million barrels a day — double what analysts predicted and the biggest cut since the coronavirus pandemic
.

Jubeir denied that the decision was politically motivated and said the cuts were to avoid large swings
in oil prices.
Jubeir also noted that oil prices have fallen
since production cuts were announced last week.

He said in the interview: "Saudi Arabia is not on the side of
Russia.
Saudi Arabia is on the side of efforts to ensure the stability of the oil market.
.
.
Saudi Arabia has not politicized
oil.
We don't see oil as a weapon
.
We see oil as a commodity
.
Our goal is to bring stability
to the oil market.
”

US President Biden said in an interview with CNN reporters on the 11th that after announcing the production cut, Washington must now "reconsider" its relationship
with Riyadh.

Saudi Energy Minister Abdulaziz bin Salman said in an interview with Saudi media earlier on the 12th that as central banks in Western countries take interest rate hikes to deal with inflation, "OPEC+" needs to be proactive
.

Saudi officials insist the cuts are to protect Saudi economic interests
.
Heavily dependent on oil revenues, the Saudi economy has a history
of being plagued by boom-and-bust cycles in the oil market.

In the United States, however, the cuts could have huge political implications
ahead of next month's midterm elections.

Asked about Washington's growing calls to limit ties with Saudi Arabia, al-Jubeir said he hoped such comments were due to domestic politics
ahead of the midterm elections.

Jubeir said the relationship between the United States and Saudi Arabia remained "strong.
"
He added: "For 80 years, Saudi Arabia and the United States have maintained a very strong relationship.
.
.
We look forward to this
relationship continuing over the next 80 years.
”