Saudi Foreign Minister Prince Faisal bin Farhan has told Al Arabiya News Channel that the recent decision to reduce the OPEC Plus oil cartel's production target to 2 million barrels per day was made for purely economic reasons.
According to Arab News, energy ministers from oil-producing countries met last week on Wednesday to agree on cuts that will take effect next month.
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He said that the OPEC plus countries acted responsibly and took a proper decision. The OPEC Plus countries are keen to achieve market stability and the interests of producers and consumers.
He added that Riyadh and Washington have strategic ties that support regional security.
According to Prince Faisal bin Farhan, the military cooperation between Saudi Arabia and the United States is in the interest of both countries and has contributed to the stability of the region.
"Our relationship with the United States has been institutional since the establishment of relations between the two countries."
Regarding the war between Russia and Ukraine, Prince Faisal said, "We want to push the parties to the Ukrainian crisis to talk to end the conflict."
He said that efforts to extend the ceasefire in Yemen are ongoing. The Yemeni government has shown great flexibility and responsibility in its efforts to protect the country's interests.
Regarding the talks with Iran, the Saudi Foreign Minister said that they have not yet yielded any concrete results and the kingdom is considering entering the sixth round of negotiations.
Talking about the relationship between Saudi Arabia and China, Prince Faisal said that it is first of all economic and with this in mind, there are many joint projects between the two countries.
He hoped that Iraq would overcome the political crisis currently affecting it.
