October 14, 2019 / 7:47 AM / a month ago

Saudi Arabia calls for focus on oil market stability, not oil price

FILE PHOTO: Saudi Energy Minister Abdulaziz Bin Salman attends the Energy Week International Forum in Moscow, Russia October 3, 2019. REUTERS/Evgenia Novozhenina/File Photo

RIYADH (Reuters) - Saudi Arabia’s Energy Minister said on Monday it was important to concentrate on the stability of the oil market rather than the price of oil and that a fair price was a stable price.

The minister, Prince Abdulaziz bin Salman, said oil exporters taking part in the global output deal between OPEC and its allies were showing serious commitment to the cuts.

Reporting by Olesya Astakhova; writing by Tom Balmforth; editing by Maria Kiselyova

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