Politics & News

Saudi Crown Prince, French President discuss updates in Ukraine

Saudi Crown Prince Mohammed bin Salman spoke by phone with French President Emmanuel Macron on the latest developments in the Ukraine issue, according to the Saudi Press Agency.

“The Saudi crown prince and the French president discussed the situation in Ukraine and the impact of the crisis on energy markets.” SPA reported.

“The Saudi crown prince assured the French president of the kingdom’s keenness on oil market stability and balance, as well as the kingdom’s adherence to the OPEC + agreement,” SPA noted.

Earlier this week, Saudi Aramco’s shares set a new high, putting it second only to Apple in terms of market value, as the company took advantage of global oil prices reaching their highest levels since 2014, owing to the impact of Russia’s invasion of Ukraine on global energy supply.

While Russia’s invasion of Ukraine began, the world awaited Moscow’s choice to cut off gas supplies to Europe, which has yet to occur, making gas a trump card for Moscow, which no one knows when or how it would decide to use, according to the British BBC.

Saudi Arabia’s crude oil production grew by 110,000 barrels per day monthly to 10 million barrels per day in December, according to official data.

According to monthly export numbers submitted by the Kingdom to the Joint Organizations Data Initiative “JODI,” exports stabilized at 6.9 million barrels per day, unchanged from November.

Saudi crude output increased by one million barrels per day in December compared to the same month a year ago and by around 430,000 barrels over December 2019.

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