Russia and Saudi Arabia intend to continue cooperation within the OPEC+ framework

29 July


Russia and Saudi Arabia intend to continue cooperation within the OPEC+ framework and will do their best to maintain stability in the oil market. This was reported by the Russian government following the meeting between Deputy Prime Minister Alexander Novak and Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman Al Saud. 


"Separately, the meeting touched on the current situation in the global oil market. It was stressed that Russia and Saudi Arabia are firmly committed to the OPEC+ agreement's goal of preserving market stability and restoring supply and demand balance," the statement said. 


In July, US President Joe Biden made a tour to the Middle East, including Saudi Arabia. Washington tried to convince the Arab countries to significantly increase the volume of oil production in order to bring down the price of oil on the world market.


Russia and Saudi Arabia are scheduled to take part in an OPEC+ meeting on August 3, where the countries will agree on the production levels for the participants of the agreement.

 

 

GSV "Russia - Islamic world"

Photo: Creative Commons

Based on materials from TASS