Mexico's President Enrique Pena Nieto met here yesterday with Eng. Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources.
In his speech during the meeting, Eng. Al-Naimi expressed happiness to meet with the Mexican President, highlighting that the Kingdom of Saudi Arabia has strong relations with Mexico in all fields.
'The two countries aim to strength these relations in the petroleum, political, economic, cultural and social fields. The two countries have great potentials of oil and gas and are main producers in the world,' Al-Naimi added.
He added that there are other important fields for the two countries' cooperation in the field of petroleum and subsequent industries. 'Both countries have large oil resources, discovered and undiscovered. They have national and giant oil companies, Bimaks Company and Saudi Aramco,' Al-Naimi said.
The Minister of Petroleum said that the Kingdom of Saudi Arabia and Mexico work to find an effective cooperation among oil producing and consuming countries.
Eng. Al-Naimi concluded that the international oil market have witnessed instability period for more than twelve months ago, 'As you know, the oil market has witnessed, during its long history, periods of instability, sharp fluctuations in prices and petroleum and economic cycles. This is one of them. Market factors and cooperation of producing countries always lead to return of stability. This, however, takes some time,' Al-Naimi added, expressing optimism in the future and return of stability to the global oil markets, improvement of prices and cooperation among the major producing countries.'