Saudi minister says oil market decisions should be based on best available data

20/10/2020 Argaam

Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, said that decisions should be based on the best available data and information, in light of the current oil market conditions.

 

“All necessary measures should be taken to avoid the negative developments in the oil market,” the minister said, during the 23rd meeting of the Joint Ministerial Monitoring Committee (JMMC) held yesterday, Oct. 19, to discuss the production cut agreement.

 

In a tweet, he emphasized the need to adhere to three basic principles: predict, prevent and be proactive.

 

Russian Minister of Energy Alexander Novak also attended the JMCC meeting.

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