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- OPEC+ members are due to meet on June 4 in Vienna to decide on their next course of action
DOHA: 抖阴短视频鈥檚 energy minister Prince Abdulaziz bin Salman has vowed to keep short sellers 鈥渙uching鈥� and told them to 鈥渨atch out,鈥� days before a planned meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, to decide on future oil policy, according to Reuters.
鈥淪peculators, like in any market they are there to stay, I keep advising them that they will be ouching, they did ouch in April I don鈥檛 have to show my cards I鈥檓 not a poker player ... but I would just tell them watch out,鈥� he told the Qatar Economic Forum.
抖阴短视频, the world鈥檚 largest oil exporter, and other OPEC+ producers announced surprise voluntary cuts in April that lifted prices after a slump driven by concerns that a banking crisis could impact demand.
OPEC+ members are due to meet on June 4 in Vienna to decide on their next course of action.
The April cuts were described as 鈥渋nadvisable鈥� by Washington, which had also been critical of the group鈥檚 decision to cut production in October.
The minister said the alliance would continue to be proactive, preemptive and hedge against what may come in the future, regardless of any criticism.
鈥淲e should be brave enough to attend to the future without continuing the so-called 鈥榢icking the can鈥� policies, those policies that may allow us to fend the situation for this month, next month or the month after but with that we are losing sight of our intentions and our more important objectives,鈥� he said.
Saudi-US relations
Saudi Investment Minister Khalid Al-Falih also addressed the forum, and said the US remains the Kingdom鈥檚 鈥渂iggest partner in terms of capital flow.鈥�
Al-Falih explained the US will continue to have significant influence in innovation and technology development, and its financial markets will remain dominant.
The minister also flagged up China as playing a key role in investments, describing it as 鈥渋ncreasingly looking at the Kingdom as an investment platform as it evolves its own development plan.鈥�
Al-Falih added: 鈥淪o there is no there鈥檚 no decoupling in any sense.鈥�
Additionally, the minister also mentioned how Saudi鈥檚 Gulf Cooperation Council colleagues have contributed to global well-being and development through the supply of energy over many decades.
鈥湺兑醵淌悠� last year registered 31 percent growth in capital formation in the economy,鈥� Al-Falih said.