RIYADH: According to Saudi Arabia’s energy minister, OPEC+ has established itself as the “central bank” and regulator of the world oil market, bringing much-needed stability.
While speaking at the annual St. Petersburg International Economic Forum in Russia, Prince Abdulaziz bin Salman commended the alliance for its contribution in stabilising oil markets in the face of global economic uncertainty.
I would have to say that OPEC+ has proven to be a tool that, had it not been created by Russia, our colleagues, and ourselves, should have been created long ago because of what it has accomplished in terms of stabilising the market and demonstrating its role as the oil markets’ central bank and regulator,” the energy minister stated.
Along with highlighting the Saudi-Russian Joint Committee’s continued relationship, Prince Abdulaziz announced that Russian Deputy Prime Minister Alexander Novak will be visiting the Kingdom later this year with a high-level business delegation.
With the largest, most significant engagement from the business sector, I am excited to welcome Alexander, the co-chair of our joint committee, to Saudi Arabia this year,” he stated. Prince Abdulaziz said the partnership aims to strengthen bilateral economic connections and promote a variety of investment options.
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