Russia, Saudi Arabia pledge to stabilize oil output

The world's two largest oil producers, Russia and Saudi Arabia, on Monday agreed to act together to stabilize global oil output, though it's unclear what that might entail.
Energy ministers Alexander Novak and Minister Khalid al-Falih met Monday on the sidelines of the Group of 20 nations' summit in China. A joint statement released by Russia said both ministers "recognized the need to restrain an excessive volatility of the oil market" and agreed to act together "in order to stabilize the oil market."
Novak and al-Fatih said they would chair the first Russia-Saudi task force on oil and gas in October.

Print Friendly, PDF & Email

Leave a Reply

Comments containing incitement, libel or offensive language are barred under DEBKAfile’s regulations

Your email address will not be published.

Font Resize
Contrast