Crown Prince Mohammed Bin Salman has called on Iran to cooperate with the countries of the region and not intervene in the affairs of regional countries. The Jeddah Security and Development Summit hosted by Saudi Arabia kicked off on Saturday with the participation of six GCC countries plus Egypt, Jordan and Iraq – also known as GCC+3.
During his opening remarks, Crown Prince said that unified efforts were required to support the global economy and that unrealistic policies regarding energy sources would only lead to inflation. Crown Prince conveyed King Salman’s greetings and wishes for the success of the summit which he said is being held during a time the world is facing great challenges.
He said: “The Kingdom has plans to increase its oil production capacity to 13 million bpd and after that it will not have the ability to increase production further.” Saudi minister of energy has announced last May that the Kingdom expects to ramp up its daily oil production capacity by more than one million barrels to exceed 13 million barrels by 2027.