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Saudi Arabia underlines commitment to oil market stability

Saudi Arabia underlines commitment to oil market stability
Prince Abdulaziz bin Salman speaking at IPTC 2020

Riyadh – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, has reiterated Saudi Arabia’s commitment to do all it can to ensure the stability of the global oil market.

The minister’s remarks came during his keynote speech at the opening of the International Petroleum Technology Conference (IPTC), held in Dhahran EXPO on 13-15 January.

“There is no more reliable and responsible supplier than Saudi Arabia," he told an energy conference. As tension remains high in our region, Saudi Arabia will continue to do all it can do to ensure stable oil markets,” the minister said, as quoted by Reuters.

Moreover, it remains too early to discuss the future of the output cuts, under the OPEC+ alliance, the minister indicated, noting that Riyadh would like to see stable oil markets and sustainable growth in crude demand and supply.

The US remains a strategic partner with a big role in ensuring international security, the minister further added.