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FinancialNews


  • 30-09-18

    Saudi, US leaders mull over oil supply in market stability

    (MENAFN) Saudi Press Agency reported King Salman bin Abdulaziz Al Saud to have discussed oil supply with President Trump.

    In a phone conversation, the US president addressed with the Saudi King the importance of oil supply for achieving market stability.

    The Saudi and American leaders also underlined the attempts made to preserve the supplies in order to guarantee the oil market stability as well as the international economic development.

    Saudi Arabia was reported to be planning to increase the production of oil over the next months so as to tackle the decline in Iranian oil output.

    The Kingdom is also reportedly considering imposing restrictions on productions in 2019 so as to balance global supply and demand while the US pumps increased quantities of crude.

    The two sides were also confirmed to have held talks on the latest developments of the region and the world.

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