No agreements reached between US, SA regarding oil

TEHRAN, Jul. 16 (MNA) – Saudi Arabia's Minister of State for Foreign Affairs Adel al-Jubeir announced that there was no agreement made between the US and Saudi Arabia on oil during Biden's visit.

Al-Jubeir added that Saudi and OPEC countries would make a decision based on the market, not hysteria or politics, Reuters reported.

The news comes as the US, in a statement today stated the two sides underscored the importance of strategic economic and investment cooperation, particularly in light of the current crisis in Ukraine and its consequences, and reaffirmed their commitment to a stable global energy market. The US welcomed Saudi Arabia’s commitment to supporting global oil markets and balancing for sustained economic growth.

Both sides also decided to consult regularly on global energy markets in the near- and long-term, as well as work together as strategic partners in climate and energy transition initiatives, the statement added.

Before Biden's meetings with Saudi officials, US National Security Adviser Jake Sullivan, in statements that seemed to be aimed at reducing the level of expectations from the results of Biden's meetings, especially in the energy issue, said that he does not expect an increase in oil production after US President Joe Biden's visit to Saudi Arabia.

Saudi sources also reported that Riyadh and Washington signed 18 agreements and cooperation MoUs in the fields of energy, investment, communications, space and healthcare after the US president met with Saudi officials.


News Code 189117


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