Saudi King Fahd hailed the "fruitful" dialogue between oil consumers and producers at the weekend International Energy Forum, saying it would contribute to market stability, newspapers reported Tuesday.
King Fahd, whose country is the world's biggest oil producer, said during the cabinet meeting Monday he "welcomed the fruitful dialogue that marked the 7th International Energy Forum which the kingdom hosted".
He also hailed the forum's "desire to establish a cooperation between producer and consumer countries that would guarantee the stability of the oil market and would have a positive impact on world economic growth and its continuation".
"The organization of the forum by the kingdom conveys its permanent action and active role in international cooperation to start up channels of dialogue with a view to constructive agreement between producer and consumer countries in the interests of all," he said.
"This must be continued in the future," King Fahd stressed.
The three-day forum, which gathered delegates from more than 50 countries, ended Sunday with no concrete results on how to lower prices and secure steady oil supplies but the two sides did agree on further dialogue to try to reconcile their differences -- RIYADH (AFP)
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