The Saudi Al -Iqtisadiya newspaper confirmed that the Kingdom, throughout its history, was not only a producer of oil, but a guarantor of supplies in all cases and transformations and preserves the balance of oil markets, and is working to ensure the pace of global economic performance, pointing out that the Kingdom always remains a safe global refuge in energy the outcome of its well-balanced policies based on various factors, with international collaboration at the top of the list.
The newspaper pointed out – in its editorial issued today, Friday, entitled (Strategic Market and Harsh Rewards) – to a great availability in oil supplies around the world, and for this reason the “OPEC +” oil production group reduced two million per day, as the market bears a reduction at this level and perhaps more. highlighting the fact that any future reductions will be within the parameters and requirements of the global market, both during periods of stability and during times of crisis.
She emphasised that the current energy crisis is global and that a solution can only be found through cooperation, understanding, and coordination between the relevant authorities directly with supplies. She also said that there cannot be any room for uniqueness in a global strategy and that there should be clear international agreements based on direct cooperation in the oil market, far from any special policies.
The publication stressed that the understandings reached within the “OPEC +” scope are transparent, comprehensible, and grounded in market data and supply.
According to a Saudi daily, the country has always managed to keep the oil markets in balance.
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