Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdul Aziz Al-Falih reviewed the strength and strategy of Saudi-US relations in the fields of energy, industry and mineral resources, pointing out that the economic relationship between the Kingdom of Saudi Arabia and the United States of America extends for more than eight decades. This came at a press conference held today at the headquarters of the Media Center of the Arab-Islamic-American Summit at the Marriott Hotel in Riyadh. The minister highlighted the strength of the kingdom's economy pointing out that there are many resources that are produced and developed in the kingdom by benefiting from international partnerships. He explained that the United States of America is the largest investor in the kingdom in the fields of energy, health care, petrochemicals and other fields. The minister reviewed vision of the Kingdom of Saudi Arabia 2030 and pointed out that the Kingdom of Saudi Arabia enjoys a number of successful partnerships, joint ventures and foreign direct investments. He said that the United States seeks to have investments in the kingdom of more than $ 250 billion with the total value of all agreements signed with the US side reaching 280 billion dollars. On oil, the minister welcomed the Russian position on the call for a reduction in production for another nine months. He pointed out that the suspension of oil dealing with Iran is due to the sanctions imposed since last October. He said that the kingdom produces about 10 million barrels of crude oil per day, pointing to the improvement in the kingdom's financial index.
