Minister Falih spoke at the International Finance Sector Forum organized by the Saudi Arabian Public Investment Fund.
Referring to his country’s investments, Falih said that they will continue to grow in oil, gas and renewable energy fields and in many sectors that “could not receive the expected investments”.
Falih said, “We are in a leading position with oil and non-oil investments exceeding $1.1 trillion. If we can make progress in this business, we will work harder to strengthen opportunities and diversify the country’s economy.” used the phrases.
Saudi Arabia and the United Arab Emirates, one of the world’s leading oil producers, previously criticized the decline in international investments in the oil and gas sector, drawing attention to the need for global markets for the energy transition.
US investment banks expect the price of Brent oil to rise to $110 a barrel by the end of the year.
Saudi Arabia stands out as the world’s largest crude oil exporter with approximately 7.5 million barrels per day.