China, Saudi Arabia call for oil market stabilization

Saudi Arabia and China consider it important to stabilize world oil markets, reads a joint statement of the two countries following the visit of Chinese President Xi Jinping to Riyadh, Report informs referring to SPA.

“Good foundations for cooperation in the field of energy exist due to the rich oil resources of the kingdom and the vast market of China. It is in the common interest to develop and strengthen cooperation between countries in the oil field. Both sides stressed the importance of stabilizing world oil markets,” reads the document.

In addition, “China welcomed the kingdom’s role in maintaining the balance and stability of world oil markets, and as a major reliable exporter of crude oil to China.”

Xi Jinping is on an official visit to Saudi Arabia, where on December 9 he will take part in summits with the participation of the heads of the Persian Gulf and Arab states.