Saudi and US partnership on energy ‘key to global recovery’

Agencies | Davos

The Daily Tribune – www.newsofbahrain.com

The “strong partnership” between Saudi Arabia and the US in ensuring energy market stability will be a key factor in global economic recovery, Prince Faisal bin Farhan, the Kingdom’s foreign minister, told a panel at the World Economic Forum in Davos yesterday.

Discussing the global energy and cost-of-living crises, Prince Faisal also said that the Kingdom’s position on an OPEC+ decision last year to reduce oil output targets was correct, despite opposition from the US.

However, the Saudi minister said that the Kingdom still has a strong relationship with Washington, even if the two do not “always agree.” As the world’s top oil exporter, Saudi Arabia has a responsibility to continue providing stability to oil markets, Prince Faisal said, adding that the Kingdom and US will continue to engage in dialogue to work toward that goal.