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Post: US says Riyadh promises to stabilize global oil market


View of Riyadh, Saudi Arabia. Archive photo

White House: Riyadh determined to stabilize global oil market

WASHINGTON, July 16 – RIA Novosti. The White House said on Friday that Saudi Arabia has pledged to keep the balance in the global oil market to ensure sustainable economic growth after talks with US officials.

“Saudi Arabia is committed to balancing the global oil market for sustainable economic growth. The United States has welcomed a 50 percent increase in oil production compared to planned volumes for July and August. This and other steps we expect in the coming weeks are the results of US President Joe Biden’s He said in a report released at the White House following his meeting with royal officials in Jeddah, it had helped stabilize markets significantly.

However, Washington and Riyadh announced the expansion of cooperation in the field of cybersecurity, which includes “the exchange of data on threats in this area and the actions of malicious people to strengthen the overall protection of the two countries.” The White House said the United States and Saudi Arabia have agreed to work closely together to share best practices, technologies, tools and approaches to cyber education.

Another important outcome of the contacts was that Saudi Arabia “opened its airspace to and from all civilian aircraft flying to and from Israel, based on the principles of the 1944 Chicago Convention.”

“This decision represents an important step towards building a more integrated Middle East, more connected with the rest of the world,” the US administration said.

US President Joe Biden is making his first official visit to Saudi Arabia as part of his Middle East tour. On Friday, as part of the delegations, he had a meeting with the leader of the kingdom and meetings with the crown prince. He has a separate bilateral meeting with the Crown Prince on Saturday.

Source: Ria

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