RIYADH, December 4 (CIC) – Saudi Arabia’s Crown Prince Mohammed bin Salman, who met the visiting US Secretary of Energy Rick Perry, has affirmed that the Kingdom is keen on stabilising energy markets.
“The Crown Prince affirmed the kingdom’s keenness to stabilise energy markets and supply them in a sustainable manner to serve the interests of energy producers and consumers,” the official Saudi Press Agency (SPA) reported.
During the meeting in Riyadh on Sunday, they discussed the “strategic partnership between the two countries in various fields, in including energy, environment, industry and joint investments between the two countries, especially in the petrochemical, infrastructure and energy sectors,” SPA added.
The meeting was attended by Khaled Al-Falih, the Minister of Energy, Industry and Mineral Resources; and officials from US Department of Energy.
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC nations, including Russia, have agreed on Thursday at their meeting in Vienna to extend oil-supply cuts by nine months to the end of next year. The current deal, which was due to expire in March 2018, stipulated that the petroleum producers cut output collectively by approximately 1.8 million barrels per day.