Saudi Arabia Welcoming Any Country Willing To Balance Oil Market - Energy Minister

DOHA (Pakistan Point News / Sputnik - 04th April, 2020) Saudi Arabia is still welcoming any oil-producing country's aspiration to find solutions aimed at balancing the global oil market, Energy Minister Prince Abdulaziz bin Salman Al Saud told the state-run SPA news agency on Saturday.

"His Royal Highness stressed that the Kingdom is still welcoming to anyone who wants to find solutions to the challenges of the oil market, and the Kingdom has called for an urgent meeting of OPEC+ countries in addition to a number of other countries, in line with its commitment to cooperation," the agency reported.

The minister refuted rumors that it was Saudi Arabia's decision not to prolong the OPEC+ oil output cut deal.

"His Royal Highness noted that the Kingdom has exerted great efforts with OPEC+ countries to take action to prevent a glut in the oil market resulting from a decline in the global economic growth. However, this proposal made by the Kingdom and approved by 22 countries, unfortunately was not agreed upon by the Russian delegates, leading to non-agreement," SPA added.