A joint press conference, presided over by the Foreign Minister Prince Saud Al-Faisal was held here today at the conclusion of the Third OPEC Summit. The participants were the Secretary General of OPEC Dr. Abdullah Salem Al-Badri; Minister of Finance Ibrahim bin Abdulaziz Al-Assaf, Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi; and Prince Abdulaziz bin Salman bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs. At the outset of the conference, Prince Saud read out the following statement: I would like to welcome the media participating in the coverage of the Third OPEC Summit in Riyadh which has convened under important international conditions for world oil market and industry which witnessed a plethora of confused concepts and visions regarding the great fluctuation in the oil industry. I am pleased to express my deep satisfaction over the results of OPEC summit and the spirit of cooperation that prevailed over its deliberations which were realistic, responsible, and transparent in addressing one of the most important sources of global energy. This clearly has been reflected in the Riyadh Declaration issued by the Summit, which is based on three key objectives: providing stable and secure oil supplies, supporting global prosperity, and protecting environment. In this regard, I refer to the contents of the speech of The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz which stressed that oil ought to be a means of development rather than a means of conflicts and whims; the stability of the world oil market is a joint responsibility between producers and consumers to ensure the continuation of the wheel of the world economic growth. --More
