Saudi, US leaders discuss energy supplies, security

RIYADH－Saudi Arabia and the United States discussed security cooperation, including energy supplies and developments in the Middle East, during a phone call between Saudi King Salman bin Abdulaziz Al Saud and US President Joe Biden on Wednesday.

The Saudi king highlighted the importance of maintaining balance and stability in the oil markets, noting the role of the OPEC+ agreement in this regard.

"The two leaders committed to ensuring the stability of global energy supplies," said the White House in a statement.

Salman, head of the largest crude exporter in the Organization of the Petroleum Exporting Countries, spoke about maintaining balance and stability in the petroleum markets, reported Saudi Press Agency.

He emphasized the need to maintain the supply agreement that OPEC has with its allies, a group known as OPEC+.

Last week, OPEC+ agreed to stick to moderate rises in its oil output, with the group struggling to meet existing targets and wary of responding to calls on its strained capacity for more crude oil from top consumers to cap surging prices.

The OPEC+ group consists of OPEC and non-OPEC countries including Russia.

Global crude prices, which have rallied about 20 percent this year, are likely to surpass $100 a barrel because of a weaker-than-expected hit to demand from the Omicron variant of COVID-19, analysts said.

High oil prices are a risk to the Biden administration ahead of November's congressional elections in which his fellow Democrats will defend slim majorities in the Senate, according to a Reuters report.

"Saudi Arabia has historically played a vital role in ensuring global energy markets are well supplied to support strong and resilient economies," said a US source familiar with the call speaking on condition of anonymity.

In the phone call, the two leaders also highlighted the need for more efforts to preserve security and stability in Saudi Arabia and the region.

King Salman also expressed Saudi Arabia's resolve in reaching a comprehensive political resolution in Yemen, and its efforts to bring prosperity and security for the Yemeni people.

Xinhua - Agencies