Saudi Arabia deals blow to Trump’s proposal to slash oil prices
Saudi Arabia has expressed its support for maintaining stability in the global oil market, despite U.S. President Donald Trump urging the Middle Eastern nation to lower oil prices.
When asked about Donald Trump’s proposal during an appearance at the Davos forum in Switzerland, Saudi Economy Minister Faisal Alibrahim emphasized his country’s commitment to long-term market balance.
"The kingdom's position, OPEC's position, is all about long-term market stability to ensure there’s enough supply for growing demand," he said at Davos.
Faisal Alibrahim highlighted the $600 billion in investments and expanded trade with the United States, as outlined by Saudi Crown Prince Mohammed bin Salman. This figure encompasses both investments and procurement across public and private sectors.
The minister reaffirmed Saudi Arabia’s intention to continue trading with the U.S. and to meet or even exceed their investment commitments.
"This number represents investments, procurement, public and private sectors, and it’s a reflection of the strong relationship," he explained.
(QG - Source: RBC Ukraine / Picture: © Pixabay)