"It is imperative to respond quickly and decisively to the threat to energy supplies", Falih said, as cited by the Saudi Sabq news media, during a ministerial meeting before the 2019 G20 Osaka summit in Japan on Saturday.
Falih added that more resources should be invested globally into the research and development of new clean energy sources in order to decrease the negative impact that traditional energy sources had on the environment.
On Thursday, two oil tankers, Kokuka Courageous and Front Altair, suffered explosions and fires in the Gulf of Oman near the Strait of Hormuz. While the causes of the incident remain unknown, the United States claimed that Iran had attacked the vessels.
However, Washington had not provided any evidence to support its claims. The US military subsequently released a video showing alleged Iranian forces removing an unexploded mine from one of the tankers. The footage, however, did not show any boat names or flags that could help substantiate the claims.
Iran has denied all the allegations of having a role in the incident.
