Assaf also spoke about the Kingdom's role at regional and international arenas, and the efforts exerted by Saudi Arabia to join the World Trade Organization (WTO). He pointed out that the strong world demand for oil in addition to other factors like the tense situation in some parts of the world have had an impact on oil prices. Dr Al-Assaf underlined the importance of cooperation among oil producing and consuming countries so as to preserve the stability of the oil prices under the auspices of the Riyadh-based World Energy Forum. "In order to bring about stability in the world economy, notably in the economies of the developing countries, the Kingdom of Saudi Arabia has decided to raise its oil production capacity," he added.
