While Saudi King Salman bin Abdul-Aziz Al Saud Salman met with President Barack Obama on Friday to discuss the Iran deal, the country's finance minister also assured investors in a forum that Saudi Arabia will weather the decline in oil prices, said Helima Croft, RBC Capital Markets' chief commodities strategist.
Croft said in the forum, which she attended, the message was "that they had dealt with low oil prices before; they can deal with it again and also importantly that the prices will eventually rebound. They won't be in this environment forever."
Saudi Arabia remains the world's largest oil exporter, and it has committed to pumping crude freely despite a recent price decline.
However, while the kingdom keeps emphasizing that demand will ultimately push oil prices higher, Croft said that isn't necessarily a given.
"What if we don't get that demand-driven recovery into the $70s next year? Do they re-evaluate their policy on production?" she said Friday in an interview with CNBC's "Closing Bell."