with a calm tone; Saudi Energy Minister Prince Abdulaziz bin Salman has issued an unprecedented warning about the withdrawal of emergency oil stocks.
Prince Abdulaziz bin Salman said: “It is my duty to warn against the use of strategic reserves, because the exhaustion of excess capacity has serious repercussions.”
He stressed that “the withdrawal of emergency oil stocks will be painful in the coming months”.
The Saudi Energy Minister stressed that the Kingdom is “communicating with many European governments about the current crisis”, as Europe is witnessing a critical phase of supply chains.
The minister added during his speech today, Tuesday, inside The activities of the sixth edition of the “Future Investment Initiative Conference” Held in Riyadh, the Kingdom’s oil exports to Europe doubled in September to 950,000 barrels per day, up from 490,000 barrels per day last year.
Prince Abdulaziz bin Salman continued: “In the coming months we will supply oil to all of us who need it.”
The Saudi Energy Minister said everyone is talking about a severe recession and it is important to protect ourselves from the worst, adding: “We must always prepare for the worst in advance.”
The minister explained: “We are excited about the climate conference, because in Egypt we will hold the Green Middle East Initiative and Green Saudi Arabia in Egypt to review what we have achieved. We will have many results in the field of energy during the conferences in Egypt.” .
Prince Abdulaziz bin Salman stressed that “Vision 2030 has become the vision of the Saudis as a whole”.
