Saudi Arabia To Balance Interests Of Oil Consumers & Producers
$OIL
The Kingdom is encouraging investment in different energy sectors
Saudi Arabia said this week that its energy policy is geared towards balancing the interests of Crude Oil consumers and producers and encouraging investment in different energy sectors.
In a statement issued after a weekly cabinet meeting, the Saudi government expressed support for the policy outlined by King Salman bin Abdulaziz at an investment seminar during a visit to Washington, DC last week.
The statement also noted King Salman’s “assertion that the policy of Saudi Arabia, as a major Crude Oil producer, has been and remains to maintain the stability of the world economy, its growth in a way that balances the interests of consumers and producers and encourage investments in different energy sectors.”
| HeffX-LTN Analysis for OIL: | Overall | Short | Intermediate | Long |
| Bearish (-0.30) | Neutral (-0.04) | Bearish (-0.44) | Bearish (-0.42) |
By Aarti Nagraj
Paul Ebeling, Editor
HeffX-LTN
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