Naimi pointed that international oil markets are currently characterized by the balance of supply and demand with the availability of large quantities of oil in the form of trading stocks or surplus production capacity available to some oil producing countries, disclosing that the current rise in prices is unjustified and it is due mainly to speculations in future oil markets. "Moreover, the Kingdom of Saudi Arabia is ready to meet the global demand for oil according to the quantities and qualities to be needed by the markets," he noted. On his part, Verhagen commended the positive role played by Saudi Arabia to stabilize the international oil markets. The meeting was attended by Prince Abdulaziz Ibn Salman Ibn Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs, a number of senior officials of the Ministry of Petroleum and Mineral Resources and the Netherlands Ambassador to the Kingdom of Saudi Arabia.
