Saudi energy minister: We want sustainable oil prices

16 Janvier, 2020, 12:50 | Auteur: Adelaide Bullion
  • Saudi Arabia set to be added to the F1 calendar in 2021

Rumors of Saudi Arabia's candidacy for a spot on F1's calendar emerged past year, with reports suggesting the Kingdom was eager to host a Grand Prix as part of its Vision 2030 plan, a strategic social, economic and cultural program spearheaded by Crown Prince Mohammed bin Salman which ambitions to diversify the oil-rich kingdom's revenue streams and promote worldwide tourism.

Saudi Arabia's energy minister said on Monday that the kingdom, OPEC's de facto leader, would like to see stable oil markets and sustainable growth in crude demand and supply.

Prince Abdulaziz bin Salman said it was too early now to talk about whether OPEC and its allies, a group known as OPEC+, would continue with production curbs agreed under a deal that expires in March.

The 12th edition of the two-day International Petroleum Technology Conference (IPTC) 2020 will take place on January 13 at the Dhahran EXPO in Dhahran, with Saudi Aramco serving as the exclusive host organization.

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Prince Abdulaziz said the United States was a strategic partner with a big role in global security. "We're leaving it to our friends in the U.S. to conduct themselves in the manner they see fit", he said.

Washington and Riyadh blamed Iran for the 14 September missile and drone attacks on Saudi oil plants, a charge Tehran denied.

"We have taken every precaution that can be taken", the minister told reporters when asked whether Saudi Arabia had raised security after the recent USA and Iran strikes in Iraq.

Discussions on further production cuts by OPEC members led by Saudi Arabia and other non-OPEC oil-producing countries, including Russian Federation, have been postponed for March, Fineko/abc.az reports. Saudi Arabia has also pledged to cut a further 400,000 b/d if all other members respect their production quotas.

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