Saudi role vital in stabilizing oil markets, boosting global energy security: expert
Saudi Arabia has played a key role in stabilizing oil markets and ensuring energy security since the onset of the crisis, according to energy expert Dr. Mowafaq Arija.
Key Takeaways
AIEnergy expert Dr. Mowafaq Arija has said that Saudi Arabia has contributed to stabilizing oil markets and maintaining price balance since the beginning of the crisis, through efforts aimed at ensuring continuous supply and strengthening energy security.
Speaking to Al Ekhbariya TV, Arija explained that the continued export of oil via the East–West pipeline has supported the stability of oil supplies and enhanced the market’s ability to withstand challenges and disruptions.
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He noted that Saudi Arabia’s focus on energy security is a key factor in supporting global market stability, especially amid ongoing changes in oil markets and their impact on supply chains.
Arija added that the launch of a strategic storage project in Singapore marks a significant step in developing energy supply chains, further strengthening the Kingdom’s ability to support supply reliability and respond to shifts in global markets.