The Saudi Cabinet reaffirmed in a statement today, Tuesday, "the Kingdom's desire to enhance precautionary efforts made by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to achieve stability in oil markets." The Cabinet expressed the Kingdom's commitment to bolster the precautionary efforts of OPEC+ member states to support the stability and balance of oil markets, including the announcement to extend the voluntary reduction of one million barrels per day, which started in July and will continue for another month into August, with the possibility of further extension.
The meeting reviewed the outcomes of the sixth ministerial meeting of the strategic dialogue between the Gulf Cooperation Council (GCC) and the Russian Federation held in Moscow, which adopted a joint action plan for the period from 2023 to 2028 and coordinated on various current political issues at both regional and international levels.
Minister of Information Salman bin Yusuf Al-Dosari explained that the council noted what was included in the joint statement issued by the Kingdom and the French Republic regarding cooperation in energy fields, and the importance both countries place on implementing the United Nations Framework Convention on Climate Change and the Paris Agreement, in accordance with the principles and objectives outlined therein.
The Cabinet addressed the Kingdom's participation in several regional and international meetings over the past days as part of its efforts supporting collective action and a multilateral approach to address global challenges, maintain peace and stability, and achieve development and prosperity.
The council, chaired by King Salman bin Abdulaziz Al Saud at Al-Salam Palace in Jeddah, concluded several regional, international, and local resolutions, notably: "approval of the Kingdom's accession to the Treaty of Friendship and Cooperation in Southeast Asia and its protocols, delegating the Minister of Culture to discuss with the Burkinabe side the project of a memorandum of understanding for cooperation in cultural affairs between the Ministry of Culture of the Kingdom of Saudi Arabia and the Ministry of Communication, Culture, Arts, and Tourism of Burkina Faso. Additionally, delegating the Minister of Justice – or his delegate – to sign a draft cooperation agreement in the judicial field between the Kingdom of Saudi Arabia and the Republic of Chad, and to sign a draft memorandum of understanding for cooperation between the Ministry of Justice in the Kingdom of Saudi Arabia and the Ministry of Justice in the Republic of Chad. Also, approval of a memorandum of understanding aimed at reducing risks and disasters before they occur in the Arab world between the National Center for Meteorology in the Kingdom of Saudi Arabia and the Arab Red Crescent and Red Cross Organization."
The decisions also included: "delegating the Minister of Environment, Water, and Agriculture to discuss with both the Zambian and Indonesian sides regarding two draft memoranda of understanding for cooperation in agricultural fields between the Ministry of Environment, Water, and Agriculture in the Kingdom of Saudi Arabia and the Ministry of Agriculture in the Republic of Zambia and the Ministry of Agriculture in the Republic of Indonesia. Furthermore, delegating the Minister of Industry and Mineral Resources to engage with the Moroccan, Congolese, Zimbabwean, Zambian, Mauritanian, and Senegalese sides about draft memoranda of understanding in the field of mineral wealth between the Ministry of Industry and Mineral Resources in the Kingdom of Saudi Arabia and the Ministry of Energy Transition and Sustainable Development in Morocco, the Ministry of Mines in the Democratic Republic of the Congo, the Ministry of Mines and Development in Zimbabwe, the Ministry of Mines in Zambia, the Ministry of Petroleum, Minerals, and Energy in Mauritania, and the Ministry of Mines and Geology in Senegal. The Cabinet also approved a memorandum of understanding for cooperation in tourism between the Ministry of Tourism in the Kingdom of Saudi Arabia and the Ministry of Commerce and Tourism in the Republic of Djibouti. Additionally, it authorized the Attorney General to discuss with the United Nations Office on Drugs and Crime a draft memorandum of understanding between the Public Prosecution in the Kingdom of Saudi Arabia and the UN Office on Drugs and Crime. Furthermore, it approved the establishment of a National Marine Information Center and the approval of the real estate contributions system."
