Dharmendra Pradhan seeks Saudi help to cool fuel rates
NEW DELHI: With oil prices on the boil just as general elections are announced, oil minister Dharmendra Pradhan has asked world's largest oil exporter Saudi Arabia to play an active role in keeping rates at a reasonable level.
Petrol and diesel prices have risen by over Rs 2 per litre in last one month as international rates have risen on hopes of the United States and China ending a trade war that has slowed down the global economic growth and OPEC ally Russia saying it would ramp up its crude supply cuts.
Pradhan raised the issue of rising oil prices with the visiting Saudi Oil Minister Khalid Al-Falih late last night and sought a role of the Kingdom in cooling rates.
"Shared my concern on the rising oil prices and sought active role to be played by Saudi Arabia for keeping oil prices at reasonable level," he tweeted after the meeting. An official statement issued Sunday said: "During the meeting, Pradhan referred to Saudi Arabia's pre-eminent role as a leading producer of crude oil in the world, and in maintaining global oil market balance."
The Economic Times 11-03-19