Saudi Arabia supports maintaining oil prices and investing in renewables

Saudi Arabia's Foreign Minister, Faisal bin Farhan al Saud, today defended his country's interest in maintaining "stable oil prices" to ensure the energy distribution chain, which he considered key during his speech at the World Economic Forum in the Swiss city of Davos.

"Securing the energy supply is key," said the Saudi minister, who said he was committed "to this and to the energies of the future with less impact on the environment", which is why he proposed "following the path of investment in renewable energies", an issue that "takes time".

While green energy is being developed, Bin Farhan insisted on the need to "maintain the traditional energy supply chain in a responsible way" to avoid supply problems.

In his speech, he also spoke of the importance of geopolitics and international relations in economic and energy development with the implementation of "major reform programmes for an energy and economic transition independent of oil" and extending to other areas "such as boosting jobs in other sectors" and "the inclusion of women".

The Saudi Foreign Minister said that the best way to address tensions or differences in the Middle East region is "dialogue", a tool to "work together and face the upcoming challenges".

Faisal bin Farhan al Saud admitted that Saudi Arabia has maintained a close relationship with the United States for many years, although "at times they may disagree", which does not prevent them from continuing dialogue for "the benefit of all", a reference that has not gone unnoticed after the cooling of relations between the two countries in recent months and the growing influence of China in the Persian Gulf country.

The World Economic Forum in Davos will run until 20 January, with sessions in which representatives from all countries will discuss economics, politics, international relations and also social and technological issues.