Riyadh works to allay India's concerns about oil prices

India should rest assured that Riyadh will do its part to ensure its economy can move forward in the face of higher oil prices, the Saudi energy minister said.


Saudi Energy Minister Khalid al-Falih said he made a telephone call to his Indian counterpart, Dharmendra Pradhan, to discuss the situation in the global oil market. Crude oil prices are up nearly 20 percent for Brent, the global benchmark, and up 5 percent since last week, when U.S. President Donald Trump pulled out of the Iranian nuclear agreement.

Falih said he offered assurances to the Indian minister following consultations with his colleagues in Russia and the United Arab Emirates, which holds the rotating presidency of the Organization of Petroleum Exporting Countries.
 (UPI)
 18/5/18