Saudi Arabia vows to meet global oil market needs

By Arhama Altaf - Web Editor - BOL News

09th October, 2019

Saudi Arabia vows to meet global oil market needs

Wednesday 09th October, 2019

King Salman chaired the Cabinet session held at Al-Yamamah Palace in Riyadh, reports said.

The Cabinet addressed the Kingdom’s assertion during its participation in Russian Energy Week — that it was ready to meet world oil demand following efforts to restore supply capabilities within 72 hours of last month’s oil field attacks.

These efforts strengthened the Kingdom’s position as the most reliable, safe and independent oil exporter.

The king briefed the Cabinet on the results of official talks held with President of the Sudanese Supreme Council Gen. Abdulfattah Al-Burhan and Sudanese Prime Minister Dr. Abdullah Hamdouk.

Media Minister Turki Al-Shabanah, in a statement to SPA, said the Cabinet reviewed reports on the latest regional and international developments.

He highlighted the final statement of the 4th extraordinary meeting of the Gulf Cooperation Council (GCC) Supreme Military Committee, held in Riyadh, to consult on current threats and situations and to achieve greater GCC military coordination.

Earlier, Saudi Arabia energy minister Prince Abdulaziz bin Salman said that Saudi Arabia has fully restored oil output after attacks on its facilities last month and is now focused on the listing of state oil giant Saudi Aramco.

While addressing a press conference in Moscow he said “We all rose to the challenge.”

On September 14, Drone attacks have set Saudi Arabia’s two major oil facilities of Aramco on fire.

First drone hit Abqaiq, site of Aramco’s largest oil processing plant, while a second drone attack started fires in the Khurais oilfield.

Security teams have controlled the fire, which caused massive loss.

Drone attacks have been verified by the interior ministry of Saudi Arabia.

The US and Saudi Arabia have said that they believe the attack was carried out by Iran, and not by Houthi rebels.

However, Iran has denied involvement in the attack.

Responsibility was claimed by Yemen’s Houthis rebels who are battling with Saudi Arabia in Yemen.


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