If a country really wants to know how to maintain their shares and also how to continue leading their country to prosperity without looking back, they should immediately contact and learn from the Kingdom of Saudi Arabia. The Kingdom is one of the richest in the world, a fully developed country that offers jobs and work to people from all around the world. It takes and brings in workers from struggling countries such as Pakistan, Philippines etc. and does gives them to make a better living for themselves. What else can be expected from them? The Kingdom is a huge producer of oil, dealing with supplying it to a lot of countries around the globe.
This business is what made the Arabs so influential and rich. What can be said about the Saudis if somehow the market value of the oil drops? Can we expect them to sit back and watch? Saudis are very well trained and experienced in their work that they know exactly what should be done if they begin to lose shares. By others, it was expected that the Saudi investments in oil would ruffle, but that did not happen. Chairman of the Al-Sami Holding Group was reported to have said that Saudi Arabia will continue to uphold their commitment and stability of the oil market despite the steep. Despite the current drop in oil prices, Saudi Arabia continues to invest in oil and gas industry along with solar energy. It shouldn’t be ignored that Saudi Arabia is as yet the market leader in the production of oil, currently standing at 8.1 percent of the world oil supply which it has plans of increasing and not the other way around.
Keeping the safety and importance of the future generations intact, Minister Al-Naimi emphasized that there should be contributions and investments made towards the science, research and technology sector for the prosperity. About Minister Al-Naimi it has always been highlighted how he keeps meetings with several ministers from Russia, US, Indonesia and Istanbul to try and come up with schemes to protect the environment as much as possible.
He also wishes to come up with techniques to preserve fossil fuels in order for the future generations to be able to know about them before they completely run out. With all the technological advancements, some cannot even be sure whether by the year of 2070 there would be enough of water to fill the needs of the ever growing world population.
Brent, which is the global oil benchmark was at 30 cents, rounding to 0.6 percent, $47.99 per barrel at around 17;19 GMT Friday. US Crude was nearly 60 cents, at $45.34. It should be credited that the Saudis know exactly how to deal with the downfalls and rise within the growing market. They stand firm in the knowledge of their business. No one can play it better than the Saudis and hopefully, they will keep up their word of maintaining their market shares.
Source: Arab News
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