Energy Minister, OPEC's Secretary General Discuss Developments in Oil Markets

Monday 1437/9/29 - 2016/07/04
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Riyadh, Ramadan 29, 1437, July 04, 2016, SPA -- Minister of Energy and Industry and Mineral Resources Khalid bin Abdulaziz Al-Faleh met in the city of Dhahran today with Secretary General of Organization of Petroleum Exporting (OPEC), Mohammed Barkindo.
At the beginning of the meeting, Al-Faleh congratulated Barkindo on the occasion of his nomination as Secretary General of the organization, stressing the importance of OPEC's role in maintaining the stability of oil markets.
During the meeting, they exchanged views on the oil market situation, data and global supply and demand for oil, and agreed that the oil market is heading for a balance, and prices began to settle.
The meeting also touched on the importance of cooperation between the main producers and consumers of Petroleum, and work on the continuation of these efforts in order to serve all parties of the oil market and the global economy.
Al-Faleh pointed out that the Kingdom of Saudi Arabia is seeking, through OPEC, to continue to play its role in meeting the growing global demand for oil and by ensuring the reliability of oil supplies flow.
For his part, OPEC's Secretary General praised the Kingdom of Saudi Arabia's petroleum facilities and its contribution to supporting efforts to maintain the stability of oil markets and to ensure the flow of supplies.
-- SPA
01:07 LOCAL TIME 22:07 GMT