Saudi Energy Minister Raises Oil Market Volatility Issue With US, Russian Peers

MOSCOW (Sputnik) - Saudi Arabia’s Energy Minister Khalid al-Falih on Thursday called peers from Russia, the United States, the United Arab Emirates, India and South Korea to discuss volatility in the oil market.

"To coordinate global action to ease oil market anxiety, I telephoned a number of my Ministerial counterparts today. Energy Ministers contacted recently include those from UAE, USA, Russia, India and Korea," he tweeted.

The Saudi energy chief said he had also talked with the executive director of the International Energy Agency (IEA) and planned to bring up the issue at St. Petersburg International Economic Forum (SPIEF) in Russia next week.

"I also talked to the Executive Director of IEA to reassure him of our commitment to the stability of oil markets and the global economy. I will contact others over the next few days before attending SPIEF May 24-26 and continuing our discussions there," he went on to say.