Saudi Arabia Stresses Commitment to Oil Market Stability

Saudi Arabia Stresses Commitment to Oil Market Stability

The Saudi government reiterated on Tuesday the Kingdom's commitment to the stability of the global oil market.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh.

The ministers reviewed the telephone call received by Crown Prince Mohammed bin Salman from French President Emmanuel Macron. They tackled regional and international developments, notably the war in Ukraine and its impact on the energy markets.

The Kingdom stressed its keenness on the stability of the oil markets and its commitment to the OPEC+ agreement.

The government underlined the statement by the Gulf Cooperation Council (GCC) that supported international efforts aimed at ending the escalation in Ukraine through dialogue and diplomacy so that security and stability can be restored and a political solution can be reached.

The cabinet highlighted the Kingdom's Founding Day that was celebrated last week. It thanked world leaders for congratulating Saudi Arabia on the occasion, which celebrates the history and unification of the nation.

The ministers underscored the Kingdom's remarks at the Munich Security Conference where it expressed its support to efforts aimed at ensuring the security and stability of the Middle East and world.

It stressed its backing to working with international partners to resolve the