5 minutes ago
The Kingdom of Saudi Arabia has confirmed that it will continue its policy aimed at ensuring an adequate supply of oil in the global market and maintain its balance, according to statements made by the Minister of Energy, Industry and Mineral Resources, Khalid Al-Faleh.
Al-Falih said after the statement by the White House, which revealed the role of Saudi Arabia and the UAE in filling the vacuum left by depriving Iran of oil exports, that the Kingdom is following developments in the oil market after the US statement closely.
The Saudi minister stressed that his country will continue its policy aimed at ensuring the supply of sufficient oil in the market, and maintain its balance.
Al-Falih said Saudi Arabia would coordinate with other oil-producing countries and its consumer counterparts to ensure the balance of world oil markets.
The administration of US President Donald Trump has announced that the exemptions granted to some countries dependent on Iranian oil will not be renewed at the end of next May, to reach the top of Iran from oil to zero.