The Minister of Petroleum and Mineral Resources, Ali Al-Naimi, today met Russian Energy Minister Igor Yusufov.
In a statement to the Saudi Press Agency (SPA) following the meeting, Al-Naimi said that the talks were focused on oil cooperation between the two countries and developments in the international oil market, and noted Russia’s position as an important oil producer and exporter country.
“The talks also dealt with the importance of cooperation between the two countries, and among other oil producer and consumer countries, for the sake of preserving market stability and cooperation via the International Energy Forum,” he added.
The Saudi and Russian sides also discussed the importance of price stability to avert negative repercussions for global economic growth.
Al-Naimi said that the Kingdom and Russia are in agreement that the oil market faces difficulties at the current time, which requires producer countries to cooperate to prevent shortages in supply and to ensure the availability of oil in appropriate quantities for all international markets.
At the conclusion of his statement, Al-Naimi said that the talks covered bilateral cooperation in the oil industry field, including the exchange of visits, expertise, information and joint investment between the two countries.
The meeting was attended by a number of officials representing the two sides.
Source: SPA
