Crown Prince Abdullah bin Abdulaziz, the Deputy Premier and Commander of the National Guard, chaired the cabinet's weekly session at Al-Yamamah palace in Riyadh on Monday. At the outset of the session, the Cabinet reviewed the latest developments at the regional and international arenas, the Kingdom's stand towards them and contents of talks, consultations and contacts held over the previous days with a number of officials of brotherly and friendly countries. In a statement to the Saudi Press Agency (SPA) following the session, Iyad bin Amin Madani, the Minister of Culture and Information, said that the Cabinet expressed its confidence that the next Gulf Consultative Summit due to be held in Riyadh will yield concrete results on the track of uniting Gulf actions and enhancing convergence of member countries visions on political and economic issues of concern to the region and the world. Briefed on a report of the annual Energy Summit recently held in Washington, the United States of America, the Cabinet renewed the Kingdom's pledges and commitments to maintaining the stability of oil supplies and prices, and to increasing its oil production as required by the factors of supply and demand in the world oil markets in the interest of producers and consumers alike. The Cabinet noted that world efforts should also accompany the Kingdom's efforts to meet the demands and confront the challenges of the world energy and to achieve a balance and stability in the world oil markets. --More 1940 Local Time 1640 GMT
