HE Khalid Al-Falih, Saudi Arabia's Minister of Energy, Industry and Mineral Resources, called Administrator of the National Energy Administration of China, HE Nuer Bekri, to discuss continued joint cooperation between the two countries in the energy sphere, and to review the present situation in the global oil market. Both ministers agreed that current oil market fundamentals are sound and that all parties should make joint efforts to ensure the stability of global oil market. HE Al-Falih shared with HE Nuer Bekri his ongoing consultations with colleagues from major producing countries both within and outside of OPEC, including HE the Russian Energy Minister and HE the Minister of Energy of the UAE, who is also the President of the OPEC Conference. Minister Nuer Bekri indicated that China, as a major consumer, will continue to monitor developments in the market, and hope Saudi Arabia can take further substantial actions, to guarantee adequate supply in crude oil market and make contribution to stabilize international oil price, together with other relevant countries. Minister Al-Falih assured Minister Nuer Bekri of Saudi Arabia's commitment to market stability, reiterating that the Kingdom together with other producers will ensure the availability of adequate supplies to offset any potential shortfall and meet incremental demand.
