Saudi Arabia to continue energy investments despite oil price drop - Gulf Business
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Saudi Arabia to continue energy investments despite oil price drop

Saudi Arabia to continue energy investments despite oil price drop

The kingdom’s oil minister said that the sharp fluctuations in oil prices have been happening since 1970s

Saudi Arabia is continuing with its investments in the oil and gas industry even with the current drop in oil prices, the kingdom’s oil minister was quoted as saying on Friday.

Ali al-Naimi was speaking in Turkey at a meeting of the G20 energy ministers, according to state news agency SPA.

“Since the 1970s this industry has been experiencing sharp fluctuations in prices – up and down – which have impacted investments in the field of oil and energy, and its continuity,” Naimi said.

“This volatile situation is not in the interest of the producing and consuming countries, and the G20 countries can contribute to the stability of the market.”

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