The Shura Council held today a virtual session chaired by its Speaker Sheikh Dr. Abdullah bin Mohammed bin Ibrahim Al Al-Sheikh. In a statement following the session, the Council commended the pioneering role of the Kingdom of Saudi Arabia under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense in restoring stability to global oil markets. The Council valued joint phone calls made by the Custodian of the Two Holy Mosques and Presidents of the United States of America and the Russian Federation, and important negotiations led by HRH Crown Prince in this regard to ensure speedy access to historical results to reduce oil production by 9.7 million barrels per day and maintain stability in oil markets to enhance growth in the global economy and achieve a balance between the interests of producing and consuming countries. The Council stressed that the Kingdom of Saudi Arabia, which is an active member of the Group of Twenty, is aware of its impact on the global economy undergoing a major test in light of the novel Coronavirus pandemic, as it discharges its responsibilities competently to overcome the effects of this pandemic on the stability of the global oil market. The council discussed a number of topics on its agenda.
