Images in this archived article have been removed.
(Reuters) Following is the full text of a speech by Prince Abdulaziz bin Salman Al Saud, Saudi Arabia’s vice minister of Petroleum and Mineral Resources at an Asian ministerial energy roundtable in the Qatari capital Doha.
Globalization, together with stronger trade and financial ties, means that each nation’s prosperity has become closely intertwined with that of the rest of the world. This cannot be seen more clearly than in the area of energy. Rather than independence, the world of energy is one of interdependence, where the security of supply – and that of demand – are two sides of the same coin.
In such an interdependent world, a constructive dialogue between consumers and producers is essential to promote trust, cooperation, information exchange, and a deeper understanding of each other’s policies. The Asian Ministerial Energy Round Table has become a key feature of this global energy dialogue.
The last few months have been, without doubt, very unusual, if not unique, for the oil market. After years of relative stability, the oil price started falling in the second half of 2014, losing more than 50 per cent of its value in a relatively short period of time.
Read full post at uk.reuters.com