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Money News

India raises concerns over rising oil prices with Saudi Arabia

India's Oil Minister Dharmendra Pradhan speaks at a road show organised by the Directorate General of Hydrocarbon (DGH) in Mumbai, October 26, 2017. REUTERS/Shailesh Andrade

NEW DELHI (Reuters) - India’s oil minister Dharmendra Pradhan expressed concerns about rising crude oil prices to his Saudi Arabian counterpart, Khalid al-Falih, on Friday amid worsening U.S.-Iranian tensions, a government statement said.

Global oil prices rose sharply on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.

Pradhan told Falih by telephone that he wanted Saudi Arabia to play an active role within OPEC and OPEC+ to keep oil prices at a reasonable level.

Reporting by Nidhi Verma, editing by Louise Heavens

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