Saudi Foreign Minister: The Kingdom stresses the importance ‎of collective cooperation with OPEC+ alliance ‎

Foreign Minister Prince Faisal bin Farhan stressed that the stability of global energy markets is an important pillar of the global economy and its growth. This came during the Kingdom’s speech before the United Nations General Assembly at its 78th session, in New York, which he delivered on behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.

Prince Faisal bin Farhan stressed that the Kingdom was keen to maintain the stability, reliability, sustainability and security of global oil markets and meet the needs of consumers, to ensure a sound global economy that benefits producers and consumers.

He added: “The Kingdom always stresses the importance of collective cooperation with the OPEC Plus group in stabilizing the global oil markets and enhancing their reliability, sustainability and security. The OPEC Plus policy of closely monitoring the markets and adopting a precautionary approach has contributed to the stability and balance of the oil markets, as was evident in The stability witnessed by the oil markets in the year (2022 AD), compared to other energy markets, such as the natural gas and coal markets.”

The Minister of Foreign Affairs indicated that the Kingdom’s Vision 2030 aims to enhance efforts in construction and development in a way that meets the aspirations of future generations, contributes to the empowerment of women and youth, develops the capabilities of creativity and innovation, and consolidates the values of openness, dialogue, tolerance and coexistence.