White House Says Saudi Arabia Agrees To Support Global Oil Market 'Balancing'

WASHINGTON (Pakistan Point News / Sputnik - 16th July, 2022) Saudi Arabia has committed to help in balancing the global oil market to help stabilize prices in the coming weeks, the White House said in a fact sheet after President Joe Biden's talks in Jeddah with Saudi leaders.

"Saudi Arabia has committed to support global oil market balancing for sustained economic growth. The United States has welcomed the increase in production levels 50 percent above what was planned for July and August. These steps and further steps that we anticipate over the coming weeks have and will help stabilize markets considerably," the release said on Friday.