Saudi Arabia’s King Salman said vowed to continue oil and gas exploration despite the fall in oil prices, Reuters has reported.
In a speech broadcast on state television, the Saudi ruler noted the historically high revenues of recent years and said the government would reduce the impact of oil price decline on development projects and continue to explore for oil and gas reserves.
King Salman, who ascended the throne in January, also vowed to build a strong and diversified economy, adding that he “would not allow anyone to meddle with Saudi security and stability”.
The King also emphasised the need to create more private sector jobs for young Saudis, as part of the government’s efforts to localise its workforce and reduce its dependence on expat workers.
