Top oil exporter Saudi Arabia is committed to its moderate policy that supports a stable crude market, the kingdom's finance minister said Friday.

"The kingdom's policy [is still] aimed at achieving stability and a stable price, which will enable producers and consumers to achieve their goals," Ibrahim al-Assaf told reporters on the sidelines of a banking conference in Paris .

"There are, of course, factors that aren't related to supply and demand that affect the oil and the commodities market, which the global community needs to address," he said.

Saudi Arabia , the world's biggest exporter and the Organization of Petroleum Exporting Countries' largest producer, is generally seen as a moderate, eager to respect the interests of both producers and consumers.

Last month, Saudi Oil Minister Ali Naimi said the world has "clearly passed" recession, with demand for crude oil set to continue rising this year.

Naimi's comments were somewhat more optimistic than in other recent appearances. He also said OPEC would boost output in 2011 if market conditions demand, a comment some analysts saw as an effort to calm crude markets.

At 1244 GMT Friday, the front-month April Brent contract on London 's ICE futures exchange was down 9 cents at $102.50 a barrel. The front-month March contract on the New York Mercantile Exchange was trading up 7 cents at $86.43 a barrel.
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