Dubai, United Arab Emirates (CNN) – Saudi Minister of Energy, Prince Abdulaziz bin Salman, said on Wednesday during the opening of the 11th session of the World Energy Forum, the International Energy Agency and the Organization of Petroleum Exporting Countries that the production adjustments taken by oil-producing countries mitigated the effects of the pandemic shock Corona.
The Saudi Press Agency reported that the minister emphasized that “the historical production adjustments made by OPEC producing countries and producing countries outside it, and the great support we reached in the extraordinary meeting of energy ministers of the G20 countries, chaired by the Kingdom for the summit in April of last year, alleviated the impact.” The shock of the Covid-19 pandemic, enhanced energy security and market stability. “
The minister also stressed that we are in a “much better” situation today than we were last year, but he cautioned against complacency, as “the level of uncertainty is very high, and we have to be very careful, realizing that collective action is the ideal way to face the upcoming challenges.”
The minister added that the effects of the pandemic will be absorbed and overcome through “cohesion, dialogue and transparency of data in the energy field,” stressing that these are the main mission and objectives of the World Energy Forum, which is what the Kingdom sought during its presidency of the G20.