"We will absolutely work with Saudi Arabia and our other partners and friends in the Arab world... to reduce to zero any attempt to destabilise the oil market," he said in the interview with Arabic-language news channels.

In recent years, non-member Russia has cooperated closely with the Organization of the Petroleum Exporting Countries (OPEC), which is led by Saudi Arabia.

The group has sought to limit supply, leading to a rebound in prices after the collapse of 2014-2015, which badly hit the Russian economy.

"Our goal is to stabilise the situation in the global hydrocarbon market," Putin said.

Last month, Saudi Arabia, the US and a number of European nations accused Iran of being behind the drone attacks on Saudi infrastructure.

Tehran denied involvement in the attacks, which were claimed by Yemen's Huthi rebels.

Putin said Russia was ready to participate in an investigation into the incidents.

Moscow, which has "good relations with all the countries in the region"

could also play a "positive role" in attempts to ease tensions between Iran and Saudi Arabia, Putin said. (AFP)