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FinancialNews


  • 26-01-20

    Saudi Arabia to work for oil market stability

    (MENAFN) According to Saudi Arabia's energy minister, Saudi Arabia, OPEC' de facto leader, will work for oil market steadiness at this time of U.S.-Iranian tension and want to see attainable price and demand expansion.


    It is too early to discuss if the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, would keep on producing curb set to end in March, as said by Prince Abdulaziz bin Salman.


    According to the minister, "tension remains high in our region; Saudi Arabia will continue to do all it can do to ensure stable oil market."


    The minister also said that, "we would like to have a stable oil market, attainable growth in term of demand, attainable growth in term of apply", "both high and low prices were undesirable and the worst thing is to have low oil price that permanently damage the industry."

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