Saudi Arabia does not target specific oil prices: Energy minister

Saudi Arabia does not target specific oil prices: Energy minister

Saudi Arabia does not target specific oil prices: Energy minister

Saudi Arabia does not target specific oil prices: Energy minister

Saudi Arabia does not target specific oil prices: Energy minister

The Kingdom raised oil output by force at the onset of the crisis, Prince Abdulaziz explained, affirming that everyone realized that Saudi Arabia will take its warnings seriously. (AFP/File Photo)

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Saudi Arabia does not target specific oil prices: Energy minister

The significant market improvement was driven by the Kingdom's sound leadership through available options: Prince Abdulaziz

Prince Abdulaziz praised the role of Crown Prince Mohammed bin Salman

Updated 17 December 2020

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RIYADH: Saudi Arabia succeeded in boosting compliance with oil output cuts, Prince Abdul Aziz bin Salman, Minister of Energy, said during the 2021 Budget Forum.

The significant market improvement was driven by the Kingdom's sound leadership through available options, Prince Abdul Aziz noted, affirming that Saudi Arabia does not target specific oil prices.

The Kingdom's opinion was different from all states during OPEC meetings since the onset of coronavirus crisis, he said, adding that the oil bloc members did not reach an agreement over the necessary actions at that time.

The coronavirus crisis repercussions might continue over the next period, the minister further stated.

The Kingdom raised oil output