Prince Abdulaziz: Oil market stability is reassuring

SourceSaudi Gazette
SectorOil & Gas
CountrySaudi Arabia

Saudi Gazette reportRIYADH — Minister of Energy Prince Abdulaziz Bin Salman said that he is satisfied with the stability of the oil market.“A stable market is something that reaches a level where things are fixed and there is neither a big swing nor big fluctuations... and this is reassuring,” he said in an interview with Asharq Bloomberg news channel after addressing the opening session of the OPEC + Joint Ministerial Monitoring Committee’s virtual meeting on Tuesday.“What disturbs any petroleum policy decision maker is excessive fluctuation ... and the situation now is swinging... and therefore taking a position on the market situation now, from a professional point of view, is an incorrect thing ...

and it is wrong to say that the Kingdom takes decisions alone,” he said.The minister said that the changes are very fast. “All options are on the table to deal with them, whether it is extending the current reduction, deepening it, or easing it. I ask everyone to be flexible, provided ...read more...