Saudi State Minister for Foreign Affairs, Adel Al-Jubeir on Oil Market, Output

The transcript discusses the Kingdom's approach to managing oil supply and demand, emphasizing its policy of ensuring adequate crude oil supply in collaboration with OPEC partners. It highlights the impact of geopolitical events, such as Russia's invasion of Ukraine, on oil prices, driven by fear and speculation rather than actual supply shortages. The Kingdom aims to maintain market equilibrium and reassesses its position continuously to address market needs.

What is the Kingdom's approach to managing oil supply in the market?

• They rely solely on domestic production.

• They do not adjust production based on demand.

• They collaborate with OPEC and OPEC+ partners.

• They focus only on short-term market trends.

How does the Kingdom respond to potential shortages in the oil market?

• By increasing production with OPEC partners

• By ignoring market demands

• By reducing production levels

• By focusing on alternative energy sources

How did the Russian invasion of Ukraine affect oil prices according to the transcript?

• It resulted in price fluctuations driven by fear and speculation.

• It caused a permanent increase in oil supply.

• It led to a decrease in global oil demand.

• It had no impact on oil prices.

What factors are mentioned as influencing oil price fluctuations during geopolitical events?

• Government regulations

• Technological advancements

• Emotions, fear, and speculation

• Supply and demand balance

What is the Kingdom's stance on ensuring energy market stability?

• They focus on short-term gains.

• They aim for equilibrium and adequate supply.

• They prioritize domestic consumption over exports.

• They do not reassess their position regularly.