Egypt backs Saudi stance on OPEC+ decision, Foreign Ministry

CAIRO – 17 October 2022: Egypt is closely following up on the repercussions of OPEC+ recent decision and the responses to it.

A statement issued by the Foreign Ministry on Monday said that Egypt backs the Saudi stances towards the decision to achieve a balance in the oil market and boost the capabilities of the international community to deal with the current economic challenges.

On October 14, the Arab League Secretary-General Ahmed Abul Gheit deplored and rejects media statements against Saudi Arabia after an OPEC+ decision last week to cut its oil production target.

 Spokesman for the AL chief said that such statements are away from facts and are based only on the complete politicization of purely economic decisions that everyone knows are necessary for the stability of the global economy in light of the serious challenges it is facing, the spokesman added.

In the same regard, the spokesman lauded well-known, balanced Saudi Arabia's approach to the stability of oil markets, as well as its firm and principled positions towards regional and international political issues