RIYADH, Saudi Arabia — Saudi Arabia's Petroleum Minister Ali Naimi says there are no links between the kingdom's decision to oppose production cuts and politics.
Naimi told the official Saudi Press Agency on Thursday that there are "incorrect information and analyses... linking petroleum decisions with political objectives." He says eventually "others will see that what we are doing will yield the best results for the kingdom."
Last week, Iran's President Hassan Rouhani said that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to Saudi Arabia. The kingdom's rivals are concerned that Saudi Arabia, which is capable of withstanding revenue losses, is forcing lower oil prices to damage their economies.
Naimi says oil prices would be unaffected by production cuts and erode Saudi Arabia's market share.