US, Saudi Arabia share vision of stable energy markets: Wright

Chris Wright, US Energy Secretary

The US and Saudi Arabia share a goal of stabilizing energy markets, particularly in ensuring the availability of energy at affordable prices amid an expected rise in demand, the US Energy Department Secretary Chris Wright said.

According to Asharq Al-Awsat, Wright added that the US shares with Saudi Arabia a common vision to provide more energy at reasonable prices, especially as global energy demand is expected to grow significantly.

He also noted that Washington welcomes energy producers around the world who join this administration’s efforts to slash costs by increasing production, while maintaining stability.

In a statement to Argaam, Wright said global energy prices are expected to decline over the next four years should President Donald Trump's policies that focus on removing regulatory restrictions, driving investments, and expanding the energy sector infrastructure be implemented.