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Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Saudi Arabia will Boost Oil Production to Stabilize Prices

Saudi Arabia will continue to increase oil production in order to achieve moderate prices.

 

Saudi Arabia will boost production in order to stabilize prices in conditions of growing demand for this raw material, reports TASS.
"Saudi Arabia is committed to balancing the oil market and keeping  prices  at a moderate level that would not harm the buyers and suppliers,"  said Adel al-Jubair, Foreign Minister of Saudi Arabia.
He said Riyadh records growth of oil demand in the time when the supply from Iran will soon begin to decline.
"We (Saudi Arabia) will continue to increase oil production in order to achieve moderate prices," he said.
Riyadh is striving to stabilize oil prices.
"This has been our policy for the last four decades, and we continue explaining this to our American friends," he said.
"As for the Iranian sanctions, we fully support the policy of the president (Trump) with regard to Iran," he said adding that this concerns both the US withdrawal from the agreement on Tehran's nuclear deal and introduction of additional restrictive measures.

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