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Saudi-Russian Talks on Oil Output Agreement ahead of OPEC Meeting - ASHARQ AL-AWSAT English Archive
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Moscow — Saudi Arabia hopes to reach an agreement with Russia on what to do when a global oil output deal expires in March, before an OPEC meeting in November, Saudi Energy Minister Khalid al-Falih said in Moscow on Friday.

“I am looking forward to reaching consensus working with you in the next few weeks before we have the November 30 meeting and bring our colleagues from around the world…,” Falih told his counterpart Russia’s Energy Minister Alexander Novak.

“As satisfied as we are with the progress made, I think you agree that our job is not done and there are still uncertainties and headwinds on global oil markets and we have to keep our eyes clearly on the road and our hands on the wheels,” he added.

The Russian Energy Ministry said on Friday that Falih and Novak have signed a programme for cooperation between their two countries in the energy sector, Reuters reported.

The current global oil output cut deal between OPEC and some non-OPEC nations expires at the end of March 2018. Russia and Saudi Arabia are among the leading oil producers in the deal.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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