Dharmendra Pradhan, Saudi oil minister talk about oil price hike over phone

Riyadh, (Saudi Arabia) May 18 Union Petroleum and Natural Gas Minister Dharmendra Pradhan has communicated his worry over rising oil prices and its negative effect on purchasers and the Indian economy with Saudi Arabia's Minister of Energy, Industry and Mineral Resources Khalid Al-Falih in a telephonic discussion.

Pradhan expressed his worry about rising costs and its negative effect on buyers and the Indian economy. He underlined his want at steady and direct costs, the announcement, issued by Ministry of Petroleum and Natural Gas, read.

"Al-Falih guaranteed Pradhan that supporting worldwide financial development is one of the Kingdom's key goals. He reiterated his dedication towards stable supplies and that the Kingdom together with different makers will guarantee accessibility of satisfactory supplies to balance any potential shortages and guarantee that costs stay sensible," the announcement included.

The call was produced using the Saudi oil minister's end.

The two ministers talked about proceeded with joint participation between the two nations and specifically the present oil market situation.

Al-Falih refreshed Pradhan on his continuous discussions with associates from major delivering nations both inside and outside of Organization of the Petroleum Exporting Countries (OPEC), including Russia's Minister of Energy Alexander Novak and Minister of Energy of the UAE who is also the President of the OPEC Conference Suhail Al Mazroui, the announcement read.

On a related note, Pradhan was on a three-day visit to the UAE, which initiated on May 12, to catch up on the February 2018 UAE visit of Prime Minister Narendra Modi.