Saudi Arabia Says It's Committed to Keeping Oil Markets Stable

(Bloomberg) -- The Saudi cabinet reiterated its commitment to a “firm policy” of keeping crude markets stable and balanced after a U.S. decision not to renew sanctions waivers for buyers of Iranian oil.

The kingdom followed “developments in the oil markets” with interest, state-run Saudi Press Agency reported. The kingdom welcomed the U.S. move to “hold Iran accountable for and to stop its destabilizing activities, its sponsoring and support for terrorism.”

Read More: Saudis Said to Plan Cautious Response to U.S. Action on Iran Oil

©2019 Bloomberg L.P.