Saudi Arabia vows to stabilize global energy market

Source: Xinhua| 2017-12-05 01:17:46|Editor: yan
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RIYADH, Dec. 4 (Xinhua) -- Saudi Arabia on Monday reiterated its commitment to stabilizing the global energy market, Saudi media Al-Arabiya reported.

Saudi's Crown Prince Mohammed bin Salman Al Saud made the pledge while meeting with the U.S. Secretary of Energy Rick Perry.

The Crown Prince added that his country decided to achieve the goal through a supply mechanism to serve the interests of both producers and consumers.

The two sides also reviewed topics in the fields of energy, environment, industry and joint investments, especially in the petrochemical, infrastructure and energy sectors.

Saudi Arabia has reasserted its leadership in the oil market on Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC partners till the end of 2018.

During his visit to Riyadh, Perry has signed with his Saudi counterpart Khaled Al-Falih a Memorandum of Understanding to promote energy cooperation between the two countries in the field of clean fossil fuels and carbon management.