Eng. Khalid Al-Falih, Saudi Arabia's Minister of Energy, Industry and Mineral Resources, called Minister of Petroleum & Natural Gas of India Dharmendra Pradhan to discuss continued joint cooperation between the two countries and in particular the current oil market situation. Eng. Al-Falih updated Minister Pradhan on his ongoing consultations with colleagues from major producing countries both in and outside of OPEC, including the Russian Energy Minister and the Minister of Energy of the UAE who is also the President of the OPEC Conference. Minister Pradhan expressed his concern about escalating prices and the impact it has on consumers and especially on the Indian economy. Minister Pradhan indicated his desire for stable and moderate prices. Minister Al-Falih assured Minister Pradhan that supporting global economic growth is one of the Kingdom's key goals. He reiterated his commitment towards market stability and that the Kingdom together with other producers will ensure availability of adequate supplies to offset any potential shortfalls.
