By: Ramy Sameeh
Abu Dhabi-Mubasher: Saudi Arabia does not target a specific oil price, said Undersecretary of the Ministry of Finance for International Financial Affairs, Suleiman bin Mohammed Al-Turki.
On the sidelines of the finance deputy ministers’ conference held in Abu Dhabi, he added that the Kingdom’s main aim is the oil market’s stability and making a balance between supply and demand.
Al-Turki noted that declining oil prices will lead to a drop in petroleum revenues, yet this will not cause a budget deficit.
Translated by: Julian Nabil
