Custodian of the Two Holy Mosques Chairs Cabinet s Session

Tuesday 1439/10/19 - 2018/07/03
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Jeddah, Shawwal 19, 1439, July 03, 2018, SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet‘s session at Al-Salam Palace in Jeddah on Tuesday afternoon.

At the outset of the session, the King praised Almighty Allah that millions of Umrah performers and visitors performed Umrah rituals during the holy month of Ramadan easily and comfortably, expressing his thanks and appreciation to all employees of governmental and private sectors for their blessed efforts that contributed to a distinguished success for the Umrah season and enabling Umrah performers to perform their rituals in security, safety and tranquility amid an integrated system of services provided for them.

The King briefed the Cabinet on the telephone call received from President Donald Trump of the United States of America, during which the two leaders affirmed the need to exert efforts to maintain the stability of oil markets and the growth of the world economy. In this regard, the Cabinet stressed that one of the most important objectives of the Kingdom‘s petroleum policy is always to seek for achieving balance and stability in oil markets, coordination and consultation with other producing countries as well as major consuming countries, and the importance of providing supplies when necessary to achieve common interests and stimulate the global economic growth. The Cabinet commended constructive cooperation between producing countries from inside and outside OPEC, which resulted in the agreement of 25 countries to increase oil supplies taking into account current market conditions. The Cabinet also affirmed the Kingdom‘s readiness to use its spare capacity when needed to deal with any future changes in oil supply and demand rates in coordination with other producing countries.

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15:23 LOCAL TIME 12:23 GMT

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