Russia, Saudi Arabia discuss more balancing of oil markets - Russia's Novak

FILE PHOTO: Russian Energy Minister Alexander Novak attends a session of the Russian Energy Week international forum in Moscow, Russia October 3, 2018. REUTERS/Sergei Karpukhin - Copyright SERGEI KARPUKHIN(Reuters)

By Reuters

Published on 06/06/2019 - 23:34•Updated 19/04/2024 - 12:17

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ST PETERSBURG (Reuters) - Russian Energy Minister Alexander Novak said on Thursday that he and Saudi Energy Minister Khalid al Falih discussed how the countries could further balance oil markets.

“We have discussed (the) situation on the market and agreed that we will cooperate further with the aim of balancing the market," he said.The two also talked about moving the next scheduled meeting of the Organization of the Petroleum Exporting Countries (OPEC) to July 4 from its currently scheduled date on June 25, Novak said. Russia is not a member of OPEC, but has been part of two production-cutting pacts in the last three years.

(Reporting by Vladimir Soldatkin; Editing by Tom Brown)

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