Pakistan expresses solidarity with Saudi Arabia over OPEC+ decision to cut oil output

ISLAMABAD: The Pakistani foreign ministry said on Tuesday Islamabad stood with Saudi Arabia and its leadership in the wake of criticism of a decision by OPEC+ to cut its oil production target by 2 million barrels per day. 
OPEC+, the oil producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) plus allies including Russia, announced the production target after weeks of lobbying by US officials against such a move. 
The United States has said the cut would boost Russia's foreign earnings and suggested it had been engineered for political reasons. Saudi Foreign Minister Prince Faisal bin Farhan has said the decision was purely economic and was taken unanimously by its member states. His comments were backed by ministers of several OPEC+ member states including the United Arab Emirates, Iraq and Kuwait. 
"In the wake of statements made against the Kingdom in the context of OPEC + decision, Pakistan expresses solidarity with the leadership of the Kingdom of Saudi Arabia," the foreign office said. "We appreciate the concerns of the Kingdom of Saudi Arabia for avoiding market volatility and ensuring global economic stability." 
The foreign office said Pakistan encouraged a constructive approach on such issues "based on engagement and mutual respect." 
Saudi King Salman bin Abdulaziz has said the kingdom was working hard to support stability and balance in oil markets, including establishing and maintaining agreements of the OPEC+ alliance. 
The OPEC+ cut has raised concerns in Washington about the possibility of higher gasoline prices ahead of the November US midterm elections, with the Democrats trying to retain their control of the House of Representatives and Senate.