Saudi Arabia says it is working hard to balance oil markets

17 October 2022

Saudi Arabia is making every effort to stabilize oil markets, King Salman bin Abdulaziz Al Saud said on Monday at the opening session of the Majlis al-Shura (Consultative Council, the country's legislative body). 

"The kingdom is working hard to support, stabilize and balance oil markets," the monarch said. 

The king said Saudi Arabia is "moving rapidly to address environmental challenges" in the fight against climate change. He reiterated Riyadh's commitment to helping countries in need affected by natural disasters and environmental crises. "The kingdom has provided about 2.8 billion rials ($750 million) in food and agricultural security assistance," the monarch said. 

Addressing security issues, the Saudi king stressed that "international peace cannot be achieved through an arms race or the possession of weapons of mass destruction, and called on 'Iran to fulfill its obligations on atom and to fully cooperate with the International Atomic Energy Agency."

Salman bin Abdulaziz Al Saud called Iraq's security an important pillar of stability in the entire region and assured the kingdom's support for its territorial integrity and sovereignty.



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Based on materials from TASS