Saudi king says oil policy aimed at promoting market stability

Saudi Arabia's King Salman said on Wednesday the kingdom's oil policy aims to promote stability in global oil markets, and serves consumers and producers alike.

He also said the initial public offering of state oil giant Saudi Aramco will allow investors inside and outside the country to take part and will create thousands of jobs, in an annual address to the Shura Council advisory body.

He said Aramco's ability to quickly restore oil production capacity after attacks in September proved the kingdom could meet global demand during any shortage.