Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Riyadh wrote under the title "an anticipated trade package coming" that it was obvious that members and non-members of the Organization of Petroleum Exporting Countries (OPEC) often reach understanding leading to binding agreement among parties of pre-negotiations on oil future, the compass of the world's most influential economic sector. It deserves mentioning that political and other irrelevant differences don't serve. The Kingdom of Saudi Arabia, the world's leading oil exporter, has long played a pivotal role in bringing about consensus among the other players, including Russia, a key factor in the non-members of the cartel. Accordingly, it is highly expected that OPEC will expand enforcing fixing a product ceiling aiming to support prices for one more year, or until the end of 2018, sources close to the negotiations informed the oil circuits. In this regard, the statements issued by Crown Prince Mohammed bin Salman, the Deputy Premier and Minister of Defense of the Kingdom of Saudi Arabia, several days ago that the growing increase in oil demand over the coming period is foreseen and that agreement between OPEC and Russia and other non-OPEC producers is welcome have their positive impact on the world oil scene. Despite the strategic orientation of the Kingdom through its 2030 vision aiming to keep away from depending on oil as state revenue source and go for diversifying its income pumping machines, need for oil is still on the increase despite strenuous efforts by some sources to introduce new energy sources as oil alternatives. Therefore, the Saudi economic role at the international economic level remains effective and critical as is its political and spiritual role on the international spectrum. --More 10:56 LOCAL TIME 07:56 GMT www.spa.gov.sa/1693550
