INSUBCONTINENT EXCLUSIVE:
Khalid al-Falih said that he did not want oil prices to rise to "unreasonable levels"New Delhi: Saudi Arabia
Energy Minister Khalid al-Falih said on Wednesday that the world's biggest exporter of crude oil will not sit by and let another supply glut
surface, but also does not want oil prices to rise to "unreasonable levels".A lot of the supply surplus that has weighed on oil prices has
already been cleared, Falih also said, with members of the Organization of the Petroleum Exporting Countries (OPEC) seeking a close balance
between supply and demand.Falih was speaking at the signing of a memorandum of understanding between Saudi Aramco and Indian refiners for a
1.2 million-barrel-per-day refinery to be built in India.© Thomson Reuters 2018(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)
