Saudi Arabia emphasizes importance of cooperation with OPEC+: Minister

Prince Faisal bin Farhan, Minister of Foreign Affairs

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan said that the Kingdom always stresses the importance of collective cooperation with the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, for the stability, reliability, sustainability, and security of oil markets. 

During his speech at the 78th session of the United Nations General Assembly in New York, the minister stated that the Kingdom is committed to ensuring the stability, reliability, sustainability, and security of oil markets, as well as meeting the needs of consumers, in order to ensure a healthy global economy that benefits both producers and consumers. 

OPEC+ policy contributed to closely monitoring the markets and adopting a precautionary approach to ensure the stability and balance of the oil markets, as was evident in the stability witnessed in 2022 compared to the natural gas and coal markets.