Saudi Arabia committed to energy market stability: Prince Faisal
Saudi Gazette report
MUNICH — Saudi Arabia is committed to working with its OPEC+ partners to ensure stability in the energy market, Foreign Minister Prince Faisal Bin Farhan said on Saturday.
Prince Faisal told the Munich Security Conference that the participation of all members is necessary to maintain stability in the energy market.
Prince Faisal’s response came in response to a question about whether the world’s top oil exporter would act to deal with any energy crisis stemming from a possible Russian invasion of Ukraine.
“We hope that there will be no crises that lead to market instability and we will continue to work with our partners… The oil market is participated by all its members, a member cannot manage this alone. Marlet.”
The Saudi minister also said the Kingdom was seeking to plan a fifth round of direct talks with Iran despite a “lack of substantial progress” in previous rounds.
He expressed hope that Iran was serious about finding a “new modus operandi” in the region.
The Saudi minister explained that the Arab coalition’s airstrikes guarantee the protection of civilians, noting that the coalition in Yemen uses the same NATO standards to protect civilians.
He said he was seeking to find a solution to the conflict in Yemen. “We will continue to support the legitimate government of Yemen and protect the places it controls,” he said.
“We hope the Houthis will put the interest of Yemen before the interest of any outside party,” he added.