(MENAFN- Kuwait News Agency (KUNA)) Saudi Arabia said Monday it was keen on stability of international oil markets, but OPEC and non-OPEC producers share the responsibility of achieving this stability.
Saudi Arabia's "petroleum policy is based on economic foundations which achieves the economic interest of the Kingdom on the short and long terms, as well as the interests of (oil) producers and consumers," the cabinet, chaired by Crown Prince Salman bin Abdulaziz, said in a statement.
It noted the negative impacts of speculators in the oil markets, and called for "confronting this pehnomenon." The government voiced relief for the recent decision by oil ministers of the Organization of Petroleum Exporting Countries to maintain current output at 30 million barrels per day, a matter that "reflects the unity of the organization," despite prices' drop.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.