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When asked about the possibility of reducing oil prices following US President Donald Trump’s remarks in Davos about requesting such measures from Saudi Arabia and OPEC, Alibrahim emphasized Riyadh’s commitment to ensuring long-term market stability to guarantee adequate supply for increasing demand, including from the US and artificial intelligence sectors.
Alibrahim highlighted the $600 billion trade and investment expansion with the United States, outlined by Crown Prince Mohammed bin Salman, which includes public and private sector contributions. When questioned about increasing this figure to $1 trillion, as suggested by Trump, Alibrahim stated the current amount reflects the strong bilateral relationship but left room for future growth.
He also referenced Vision 2030, a transformative economic reform initiative launched in 2016 to diversify Saudi Arabia’s economy, reduce reliance on hydrocarbons, and create new industries and job opportunities. “Since the beginning of Vision 2030 and by 2030, we have invested 12 times more in the economy,” Alibrahim noted.
The minister underlined the longstanding friendship between Saudi Arabia and the United States, stressing the importance of strong partnerships and the strategic use of tariffs to foster local industry development.
