Al-Falih said, when asked to comment on the possibility of Saudi Arabia giving up the dollar, of course not .. No change, whatever on our long-standing policy.
In a statement, the Saudi Ministry of Energy said: Reports indicating that Saudi Arabia threatens to sell its oil in currencies other than the US dollar are inaccurate, and do not express the Kingdom's position on this matter.
The Saudi Ministry of Energy said it will not risk its policy priorities by radically changing the financial terms of its relations in the oil trade around the world.
This statement was confirmed by the UAE Energy Minister, Suhail Al Mazrouei, who said that the use of the US dollar as the main currency of oil trade cannot be changed overnight.
On the other hand, the Saudi Minister of Energy said that it is premature to talk about a consensus between OPEC and its allies to extend the agreement to reduce the supply, but a meeting scheduled to be held in May will be Pivotal, because the effect of the current cuts will be more visible by then.
Oil prices rose today to the highest level since last November, driven by the current production cuts applied by OPEC, US sanctions on Iran and Venezuela, security unrest in Libya, as well as strong job data In the United States.
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