SPA: Saudi Prince Talks Oil Markets With US

Reuters

KHOBAR, Saudi Arabia, June 23 (Reuters) - Saudi Arabia's Deputy Crown Prince Mohammed bin Salman discussed global oil market conditions and efforts to maintain its stability with U.S. Energy Secretary Ernest Moniz, state news agency SPA reported on Thursday.

In a brief statement, SPA said the two men talked about "supporting joint efforts for the stability of the energy markets and providing energy to world markets in a sustainable manner." It gave no further details.

Prince Mohammed, the son of King Salman, is on a visit to the United States aimed at restoring frayed relations with Washington and to promote an economic plan to reduce the kingdom's dependence on oil revenues.

He is in New York this week, mainly for meetings with business leaders and investment bankers, after visits to Washington and the U.S. West Coast.

Prince Mohammed is overseeing Saudi Arabia's ambitious economic plan - known as Vision 2030 - aimed at transforming the kingdom into a global investment power.

A key part of Saudi's Vision 2030 is the restructuring of its Public Investment Fund (PIF), which would become a hub for Saudi investment abroad, and a partial privatization of its state oil giant Saudi Aramco via a stock market listing.

(Reporting by Reem Shamseddine; editing by Rania El Gamal and David Clarke)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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