Saudi Arabia, US discuss energy market stability, coronavirus

Riyadh, March 26 (IANS) Saudi Crown Prince Mohammed bin Salman Al Saud and US Secretary of State Mike Pompeo have reviewed the efforts to maintain stability in the global energy market and to contain the COVID-19 pandemic.

The two, in a telephone call on Wednesday, expressed their deep concern over the coronavirus outbreak around the world and the need for all countries to work together to contain this pandemic, Xinhua reported citing the Saudi Press Agency.

No further details of the call were revealed by the report.

As the three-year pact between the OPEC and Russia will end later the month, a price war was triggered after the two sides failed to reach a new deal on curbing oil production.

This has sent shock waves through the global energy market, as the oil price took a nosedive at a time when the global demand for oil was already hit by the raging coronavirus pandemic.

–IANS

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