ALSO READSaudi Aramco considers buying stake in Indian refineries India prepared to give Saudi Aramco 50 percent stake in planned mega refinery - source Saudi Aramco to buy 50% stake in $44-bln oil refinery in Maharashtra Saudi energy minister says Aramco IPO could still happen in 2018 Korean war, Middle East strife threats to global growth: Economic Survey
NEW DELHI (Reuters) - 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.
(Reporting by Nidhi Verma and Alex Lawler; Editing By Tom Hogue)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)