By Arab News
The Saudi energy minister told a conference of the G20 group of the world’s largest economies on Friday that ensuring affordable energy supply is key to facilitating a global economic recovery.
“Having affordable, reliable, accessible energy supply is considered a necessity to enable basic services, including health care, and help our efforts in assisting economic recovery,” Prince Abdulaziz bin Salman said in an opening speech to a video-conference of the G20 energy ministers.
Saudi Arabia is currently the chair of the group.
The world’s top oil nations pushed to finalise a deal on sweeping oil cuts at Friday’s talks to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia making the biggest moves and the US showing unusual willingness to help out.
“A raft of measures on production cuts, aimed at market stabilisation, was agreed in the format of OPEC+… The G20 role is seen in comprehensive support of these efforts,” Russian energy minister Alexander Novak said at the online conference.