Saudi Arabia Seeks Oil Markets Stability, in Continuous Contact with Major Producers - Al-Naimi Says

  • 2/10/2023
  • 15:45
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Houston 4 It is unreasonable to say that renewable energy sources alone could provide vital energy supplies needed by the world's growing numbers of people over the next decades. To put it simply, I think it is not fair for the developed countries to dictate on the developing countries what they can or cannot do to meet the needs. The Kingdom of Saudi Arabia, the United States and Europe and many other countries have been developed on energy derived from fossil fuels and petroleum derivates products are an essential part of our daily lives. We, as a sector of energy, celebrate and pay tribute to this fact, and explain better the vital importance attached to these precious natural resources, there is no sense of apology, in our minds. We must also not ignore the misinformation campaign, titled "Keep it in the ground," in the hope that it will fade. Oil industry has been portrayed as the dark side when in fact it is not. It is the power, yeah force, but a force for good. Emphasize that this sector is volatile sector, with ups and downs. Now we face a painful decline, but the market will regain its balance and demand will increase . For me, I remain optimistic, but we have to work together and combine our efforts if we are to achieve our common goal of saving energy for the good of the world and humanity. -- SPA 22:04 LOCAL TIME 19:04 GMT www.spa.gov.sa/w

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