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Saudi says future growth depends on economic diversity

Xinhua, December 7, 2016 Adjust font size:

Saudi Energy Minister Khalid Al Fateh on Wednesday pledged that the kingdom will continue supplying the world with oil, Saudi Press Agency reported.

Al Fateh made the remarks during his meeting with his U.S. counterpart Ernest Moniz in Riyadh.

The two officials discussed the strong ties between the two countries.

The Saudi minister predicted the relations with the U.S. to further improve as the Saudi economic vision 2030 is based on promoting investments and economic diversity.

"In addition to the oil market, the focus should also be on the energy usage efficiency, improving energy policy and the climate issues," he said.

The meeting came as Saudi Arabia has changed course and decided the Organization of the Petroleum Exporting Countries (OPEC) should go back to managing oil supply. Endit