Saudi Energy Minister says OPEC+ delivered more stable, less volatile oil market

Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud

Energy Minister Prince Abdulaziz bin Salman Al Saud said OPEC+ has helped create a more stable oil market with less volatility and aims to maintain sustainable stability in global oil markets.

Speaking at the Kuwait Oil and Gas Exhibition and Conference, he said the oil market is influenced by many factors unrelated to OPEC+, adding that long-term stability would provide clearer visibility on resources and revenues.

He said the world cannot meet its energy needs without relying on all available energy sources, stressing the need for realism in balancing affordable energy security with sustainability goals.