Russia affirms close oil cooperation with Saudi Arabia, OPEC+

      Published on Saturday, 26 October , 2019      690 Views     
Russia affirms close oil cooperation with Saudi Arabia, OPEC+

  • Business

Russia’s energy ministry said on Friday it continues close cooperation with Saudi Arabia and OPEC and non-OPEC oil producers to enhance market stability and predictability.

Its statement came a day after Igor Sechin, CEO of Russian oil giant Rosneft, said the September attacks on Saudi oil assets created doubts over its reliability as a supplier.

“The quick restoration of the production capacity in Saudi Arabia after the drone attacks has once again underscored professionalism and reliability of the largest producers in the industry,” the ministry said.

“Russia continues active cooperation with Saudi Arabia and the OPEC+ partners in order to improve stability and predictability of the market.”

OPEC+, an alliance of OPEC members and other major producers including Russia, has since January implemented a deal to cut output by 1.2 million bpd to support the market.

The pact runs to March 2020 and the producers meet to review policy on Dec. 5-6.

Category Business, Government, Gulf News | 2019/10/26 latest update at 10:30 PM
Source : reu | Photocredit : Google
Comments Add comment

Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.

Sponsored Publications