Saudi Arabia says seeks to balance interests of oil consumers and producers

Saudi Arabia said on Monday its energy policy was geared towards balancing the interests of oil consumers and producers and encouraging investment in different energy sectors.

In a statement issued after a weekly cabinet meeting, the Saudi government expressed support for the policy outlined by King Salman bin Abdulaziz at an investment seminar during a visit to Washington last week.

The statement also noted King Salman’s “assertion that the policy of Saudi Arabia, as a major oil producer, had been and remains to maintain the stability of the world economy, its growth in a way that balances the interests of consumers and producers and encourage investments in different energy sectors.”