Riyadh, Ramadan 1, 1439, May 17, 2018, SPA -- Eng. Khalid Al-Faleh, Minister of Energy, Industry and Mineral Resources, discussed in a telephone call which took place today with the UAE Energy and Industry Minister Suhail Al-Mazroo'e, who is also the current OPEC chairman, the recent developments in international oil market. During the conversation, they expressed concern over the fluctuations that marred the market recently following geopolitical incidents despite a supply surplus. The two ministers agreed to continue consultations and monitor the oil market closely and confirmed determination to cooperate with each other and with other producing countries within the already-set mechanisms and also with major consuming countries to guarantee the stability of the market. The two ministers reiterated their commitment to maintain the security of supplies and observe the interests of consumers as well as the world economy. They also agreed to meet together with the Russian Minister of Energy Alexander Novak in Pittsburgh next week on the sidelines of St. Peters International Economic Forum to continue consultations. --SPA 21:29 LOCAL TIME 18:29 GMT 0022 www.spa.gov.sa/w690093