Saudi foreign minister says oil price stability reflects correct Opec+ policy

SAUDI Arabia’s foreign minister said on Tuesday (Jan 17) that oil price stability showed the kingdom was correct in its position during last year’s row with the United States over the Opec+ decision to reduce oil output targets.

Prince Faisal bin Farhan Al Saud said his country, the world’s top oil exporter, has a responsibility to continue to provide that stability to oil markets and world economies and that Riyadh would have a robust dialogue with traditional ally Washington to continue to work through any issues.

He said Saudi Arabia was committed to the clean energy future but that there was a need to ensure reliability in traditional forms of energy at the same time. REUTERS