Saudi Arabia, the world's top oil exporter, will continue its moderate policy in supplying and pricing crude oil, King Abdullah said on Saturday.
The policy will protect the world economy from shocks, the monarch added.
"The world's prosperity is a unit that can not be divided. Therefore, we will continue our moderate policy in supplying and pricing oil and protecting the international economy from shocks," King Abdullah said in his first annual address to the advisory Shura council since he was enthroned last August.
Saudi Arabia sits on nearly a quarter of the world's known oil reserves and contributes around 11 percent of the global output.