Saudi Arabia stressed the importance of collective cooperation with OPEC+ for the stability of global oil markets, the Kingdom's Foreign Minister said on Saturday in his speech to the United Nations General Assembly.
"The Kingdom is keen on maintaining the stability, reliability, sustainability and security of global oil markets, and meet the needs of consumers to ensure a healthy global economy that benefits producers and consumers,” said Saudi Minister of Foreign Affairs Prince Faisal bin Farhan.
He added that "Saudi Arabia always underscores the importance of collective cooperation with OPEC+'' to stabilize the global oil markets and enhance their reliability, sustainability and security.
The OPEC+ policy of closely monitoring the markets and adopting a precautionary approach has contributed, he said, to the stability and balance of the oil markets, as was evident in the stability witnessed by the oil markets in 2022, compared to other energy markets, such as natural gas and coal markets.
