Saudi Energy Minister Prince Abdulaziz bin Salman said that no country in the world provided care to its citizens during the Corona crisis as did the Kingdom of Saudi Arabia.
According to the Saudi Ajel website, the minister’s statements came on Thursday during the Saudi Budget Forum on the challenges of global energy markets.
Regarding the nature of Saudi Arabia’s production of oil during the crisis, Bin Salman said that the Kingdom’s increase in production at the beginning of the pandemic was an intentional matter, stressing that the OPEC Plus agreement saved the global oil industry. He also stressed that this market is managed by understandings only and cannot be subjected to the concept of market freedom, according to Al-Arabiya Net.
The Saudi minister pointed out “the decrease in demand for petroleum products for the year 2020 compared to the year 2019,” noting that one of the most important reasons for the exacerbation of the challenges of the oil market is the impact of the transport sector in a way that made it at the forefront of the sectors affected by the Corona crisis.
Bin Salman revealed that the Kingdom had a different opinion at the beginning of the Corona crisis, stressing that this pandemic may have a great impact, which made the state reluctant to rectify matters and take early measures to contain matters.
He explained this approach, saying, “This called for a better treatment, because the proactive aspect in dealing with matters with the emergence of signs of the problem is much better.”
He added that in the beginning there was no consensus in the first two months of the year, but rather there was impatience in decision-making, and the March meeting ended without an agreement, which means that there is no restriction on a country in producing what it wants.
Accordingly, the Saudi minister affirmed, “We are proud to be the strongest and most possible in managing the oil market, and in December we celebrated our leadership role in managing the oil market.”