Riyadh "Riyadh Daily"
Responsible Policy

The Kingdom's political and economic roles at the international level are indispensable and no country is more qualified than the Kingdom to play these roles. Our Kingdom's wisdom, serious position and balanced politics have made it a state with an international decision echoing all around the world, leaving a positive impact and prioritizing the public interest.

The Kingdom is undoubtedly the reliable, safe and more independent source of oil. In this regard, it hastened to repair the damages caused by the terrorist attack on Aramco's two oil facilities in Abqaiq and Khurais in a short time that dazzled the global markets which have returned to the state of reassurance, after the oil prices almost reached unprecedented levels in the wake of the terrorist incident. Through its responsible policies, the Kingdom always strives to bring lasting stability to the oil markets, bring benefit to producers, consumers and the oil industry, attract investment and stabilize the financial system in order to enable the global economy to grow and prosper.

The Kingdom feels great responsibility as the largest producer and exporter of oil in the world and takes it on the best, a matter which makes oil prices balanced for both producer and consumer. This is strategic in the Kingdom's economic policies, reflected positively on global markets and the global economy at large due to the fact that oil is still the first factor in taking the global economy forward. The rate of oil consumption increases with human progress and dependence on it as a major source of energy. There are no alternatives until the near future to replace oil as a source of energy of various uses.

The Kingdom's role in stabilizing oil prices and thus the stability of the world economy is more important and more vital. Meeting the needs of the market at balanced prices achieves the Kingdom's policy aimed at prosperous global economic growth.

Related News