Saudi energy minister: Prudence is best way to deal with energy markets

Саудовская Аравия's "Middle East" reported on February 4 that just days after OPEC+ members pledged to agree to keep current production cuts unchanged until the end of 2023, Saudi Energy Minister Prince Abdulaziz bin Salman said, The best way to approach energy markets is to approach them with caution. OPEC+ does not interfere in politics, and it is very important to have trust in it. At the same time, the prince denied reports about OPEC+ or OPEC controlling oil prices, and called on everyone to maintain confidence in OPEC+. Prince Abdulaziz, speaking on the sidelines of the opening ceremony of the 44th International Society for Energy Economics in Riyadh, expressed hope that sanctions and falling investment will not lead to energy shortages. All the so-called sanctions, embargoes, underinvestment will become one thing and one thing only, and that is the undersupply of all kinds of energy, which we desperately need. At the same time, he emphasized that there are many ways for the energy sector to solve this problem together, isolationism will cause more problems, and if we do not work together, it will cause more chaos.