Business & Economy

Saudi Oil Minister holds telephonic discussion with Pradhan

IANS

New Delhi, May 19, 2018

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih held telephonic discussions with Petroleum and Natural Gas Minister Dharmendra Pradhan yesterday on continued cooperation between the two countries and, in particular, the current oil market situation.
The Minister updated Mr. Pradhan on his ongoing consultations with colleagues from major producing countries both inside and outside of OPEC, including Alexander Novak, Minister of Energy, Russia and Suhail Al Mazroui, Minister of Energy of the UAE who is also the President of the OPEC Conference.
Mr Pradhan expressed his concern about rising prices and its negative impact on consumers and the Indian economy. He expressed his desire for stable and moderate prices. The Saudi Minister assured him that supporting global economic growth was one of the Kingdom’s key goals.
He reiterated his commitment towards stable supplies and that Saudi Arabia, together with other producers, will ensure availability of adequate supplies to offset any potential shortfalls and ensure that prices remain reasonable.
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