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  • 17-05-20

    Saudi Arabia promises to improve oil market stability

    (MENAFN)

    Saudi Arabia released a joint statement with Russia announcing the commitment of both of the countries to support the stability of the oil market.

    The Saudi Press Agency said that the statement has been published after a phone call that took place between Abdulaziz bin Salman bin Abdulaziz, the Energy Minister of Saudi Arabia, and Alexander Novak, the Energy Minister of Russia, in which they talked about the developments of oil markets.

    The statement talked about the strong commitment of both of the countries in order to stabilize the oil market and to speed up the oil market rebalancing.

    The statement said that "We are confident that our partners within OPEC+ are fully aligned with our goals and they will comply with the OPEC+ agreement," praising producers in the globe who have willingly adjusted their oil output.

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