NEW DELHI: As the Opec members gathered on Thursday to find a way to support the falling price of oil, Saudi Arabia’s energy minister Khalid Al Falih said that the grouping of oil producing nations will consider the views of world leaders like Prime Minister Narendra Modi and US President Donald Trump with seriousness before taking a final decision on the issue.
Talking to reporters after arriving in Vienna, Saudi Arabia‘s oil minister Khalid Al-Falih while responding to a question said, “We take the views of Prime Minister Narendra Modi seriously who is vocal about the issue. We met in Buenos Aires (during G20 summit) where PM Modi made it clear that he cares for Indian consumers and is very serious about it. I have also seen him at various energy events in India where he was very vocal.”
Khalid Al Falih was actually asked a question on the views of US President Donald Trump. Responding to the reporter, Al Falih began by saying that the views of President Trump are taken seriously. However, Al Falih was quick to add that they also considered the views of Prime Minister Narendra Modi with equal importance.
The Saudi energy minister recalled the bilateral meeting between India and Saudi Arabia on the sidelines of the G20 meeting last week in Buenos Aires. He said Prime Minister Modi “put his views very strongly, that he cares for the Indian consumer.”
The Saudi energy minister also recalled three earlier meetings with the Prime Minister, and said that the Prime Minister had been “very vocal.” In continuation, Khalid al Falih also said that the consumer is an important part of the deliberation, even if he is not physically present in the room.
Crude prices have been falling since October because major producers _ including the US _ are pumping oil at high rates and due to fears that weaker economic growth could dampen energy demand. The price of both benchmark US crude and the standard for internationally traded oil fell 22 per cent in November.
The fall in the price of oil will be a help to many consumers as well as energy-hungry businesses, particularly at a time when global growth is slowing.
(With agency inputs)
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