Egypt reiterated that it is following closely and with interest the reactions to the OPEC+ decision, which was recently issued, and the reactions that arose around it. The Egyptian Ministry of Foreign Affairs stated in a statement Monday that Egypt supports the Kingdom of Saudi Arabia's position in explaining the technical considerations of the (OPEC +) decision. The decision aims primarily to achieve oil market stability and to ensure strengthening the international community's ability to deal with the current economic challenges. A statement issued by the Foreign Ministry 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 Oct. 14, the Arab League Secretary-General Ahmed Aboul Gheit deplored and rejected 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. — Agencies
