06:49 GMT06 May 2021
Listen Live
    Get short URL

    Saudi Foreign Minister Adel al-Jubeir said that the goal of Saudi Arabia is to protect its share of the oil market and not to support producers that have high oil prices.

    MOSCOW (Sputnik) — Saudi Arabia is not politicizing the oil problem and is acting solely on economic reasoning in discussion of oil prices and production output, Saudi Foreign Minister Adel al-Jubeir said Thursday.

    In an interview with Russia Today television, al-Jubeir dismissed assertions that Riyadh was using the oil issue to achieve political goals and insisted that Saudi Arabia approached the current situation on the global oil market solely from the economic standpoint.

    "The market determines the oil price depending on demand and offer. The goal of Saudi Arabia is to protect its share of the market and not to support producers that have high oil prices," the minister stressed.


    How Regional Ambitions, Cheap Oil Change Saudi Arabia’s Global Role
    Saudi Arabia Considers Handing Out IOUs as Oil Prices Keep Falling
    Oil Wars: Saudi Arabia Wants to 'Keep Iran in the Penalty Box'
    Wind of Change: Saudi Arabia Prepares for the End of 'The Oil Age'
    Oil, oil prices, Adel Ahmed al-Jubeir, Saudi Arabia
    Community standardsDiscussion