2007 News Story

Third OPEC Summit concludes with the Riyadh Declaration

The Third OPEC Summit of Heads of State concluded in Riyadh today under the chairmanship of Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz.

After their final session, OPEC leaders issued the Riyadh Declaration, in which they pledged to meet global energy needs while addressing environmental concerns such as climate change. The Declaration centered on the three primary themes of this year’s summit: stability of global energy markets, energy for sustainable development, and protecting the environment.

In a press conference after the conclusion of the summit, Minister of Foreign Affairs Prince Saud Al-Faisal praised the summit’s results and the cooperation displayed in the deliberations. He stressed that oil should be a means of development rather than a means of conflict, a point made by King Abdullah. 

Prince Saud also told reporters that the summit had not discussed a GCC proposal to establish a consortium to provide uranium to the Middle East.