The need for oil is growing, so it is necessary to ensure the good supply of this energy source without compromising the security of energy, Faisal Al-Ibrahim said.
The need for oil is growing in the world market. Therefore, Saudi Arabia believes it is necessary to ensure a good supply of raw materials to meet this need. The Saudi Arabia Minister of the Economic and Planning Faisal Al-Ibrahim said this while speaking at a forum in Davos, Ukrinform reported Friday, January 24th.
The position of Saudi Arabia and OPEC is to ensure long -term stability of the market to ensure that there is sufficient supply to address the growing demand, he said.
“And demand is really growing, it happens both in the United States and due to the development of artificial intelligence will continue to grow, but our task is to ensure good energy supplies without compromising energy security , without compromising our ability to use.
He is convinced that there are global issues, the solution that requires the adoption of certain decisions, and one of them is the transfer of energy.
“We can’t make a little mistake in our energy transfer approach, that’s my opinion at this time the energy supplies and energy security is the basis of growth and prosperity,” Al-Ibrahim said.
The minister also recalled that the United States and Saudi Arabia had a “long -term and strong cooperation that lasted eight decades.”
Last day, US President Donald Trump called on Saudi Arabia and OPEC to reduce oil prices. In his opinion, this will help the Russian war of war against Ukraine.
In turn, the Office of the President announced that Ukraine suggests set a highest price for Russian oil for $ 30 per barrel.
The Kremlin now responds to Trump’s oil proposal. They believe that lowering prices will not help end the Russian war against Ukraine.
Source: korrespondent
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