On Sunday, Saudi Energy Minister Khalid Al-Falih recommended reducing oil stocks, saying that crude supplies are “abundant around the world.”

And Reuters news agency quoted the Saudi minister, on the sidelines of the meeting of the joint ministerial committee of the Organization of “OPEC”, as saying: “The situation in general is delicate in the oil market.”

Al-Falih was speaking in Jeddah prior to the meeting of a ministerial committee of major producers in OPEC and its allies, including Saudi Arabia and Russia, to discuss the conditions of global oil markets, and to follow up on the work of the committee and the results of its decisions in previous meetings.

.He added: “We see that stocks are still full, (…), none of us wants bloated stocks. We have to be careful,” according to Agence France-Presse

Recent data showed that China’s imports of crude oil from Russia in August increased by 28 percent compared to their level a year ago, but Saudi Arabia returned to the top of its suppliers for the first time in four months.

Data from China’s General Administration of Customs showed that Russian oil imports, including supplies pumped through the East Siberia-Pacific pipeline and seaborne shipments from Russia’s ports in Europe and the Far East, totaled 8.342 million tons.

August imports, equivalent to 1.96 million barrels per day, were slightly lower than the May record level of about two million barrels per day. China is the largest buyer of Russian oil.

Imports from Russia rose as independent Chinese refiners ramped up their purchases of discounted Russian supplies that outpaced competing shipments from West Africa and Brazil.

Saudi Energy Minister Prince Abdulaziz bin Salman affirmed the Kingdom’s readiness to meet the world’s needs for oil, as it is the number one energy supplier in the world.

The minister referred to the tremendous efforts made by the state and other government agencies and bodies associated with the oil industry with Saudi Aramco, to restore oil production capacities within 72 hours to what they were, after the oil facilities in Abqaiq and Khurais were subjected to a cowardly attack, thus enhancing the Kingdom’s position as an oil supplier. Reliable, secure and most independent.

The Minister of Energy said during his participation in the main session of the Russian Energy Week held in Moscow under the title “Maintaining Energy Interconnectedness in an Unstable World”: “For the first 72 hours of the attack on the Abqaiq and Khurais oil plant, it was a training for me in a way. Just to confirm that I am still up to the task at hand, but I would not have been able to carry out the task without the support I received from the rest of the Saudi government.”