Saudi Minister of Energy, Industry and Mineral Resources Khalid bin Abdulaziz Al-Falih declared on Monday that Arab oil producing countries can enjoy an opportunity for cooperation and playing a positive role in the stability of the oil market and industry. They should avail themselves of the promising opportunities in the field of cooperation in the oil and gas industry development, and application of advanced technologies in all sectors of the industry, he added. He made his remarks at the 11th Arab Energy Conference which started in the Moroccan city of Marrakesh, under the theme "Energy and Arab Cooperation" and patronage of King Mohammed VI. They should also show cooperation together to support the continuation of oil as a source of energy and make it more efficient and widely beneficial, continued the minister in a speech delivered on his behalf by Abdulrahman bin Mohammed Abdulkarim, Advisor for Corporate Affairs at the ministry. Falih emphasized Saudi Arabia’s role in keeping a positive balance between producers and consumers in the international energy markets. He also underlined its commitment to enhance the oil market and readiness to relinquish the storage whenever a shortage comes up. As far as the energy sector is concerned, the Kingdoms 2030 vision focuses on a number of pillars, including diversifying the energy sources. He lauded the efforts Saudi Arabia is exerting to achieve higher revenues from the oil industry for the Kingdom and its people. He also praised its efforts in building a series of integrative values that cover all oil industry sectors, starting with exploration, production, processing, transporting, refining and developing the products for consumers.