Davos 2023: Saudi FM says oil price stability reflects correct OPEC+ policy

Arab Gulf Summit in Riyadh
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan Al-Saud attends a news conference at the Arab Gulf Summit in Riyadh, Saudi Arabia, December 9, 2022. REUTERS/Ahmed Yosri

DAVOS, Switzerland, Jan 17 (Reuters) - Saudi Arabia's foreign minister said on Tuesday that oil price stability showed the kingdom was correct in its position during last year's row with the United States over the OPEC+ decision to reduce oil output targets.

Prince Faisal bin Farhan Al Saud said his country, the world's top oil exporter, has a responsibility to continue to provide that stability to oil markets and world economies and that Riyadh would have a robust dialogue with traditional ally Washington to continue to work through any issues.

He said Saudi Arabia was committed to the clean energy future but that there was a need to ensure reliability in traditional forms of energy at the same time.

Reporting by Maha El Dahan; Writing by Ghaida Ghantous, Editing by William Maclean

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