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KSA wants stable oil prices
Filed under NewsMar 9JEDDAH – The current oil price is helping make renewable energy available to all, Prince Abdulaziz Bin Salman Bin Abdul Aziz, Assistant Minister for Petroleum Affairs, said here Monday.
He was addressing media personnel after the first session of the Gulf Environment Forum (GEF) organized by Presidency of Meteorology and Environment (PME).
Commenting on the demand for Organization of Petrol Exporting Countries (OPEC) to increase the oil quota to lower the existing prices, the Prince said nobody can dictate terms to the oil group. OPEC, he said, decides its course of action according to the needs of the market. “Generally what we are looking forward here is to stabilize the prices because we believe that this is the main factor of the real development,” he said.
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