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Saudi, Russia oil talks ‘constructive’, says Russian minister

November 26, 2016 at 2:35 am

Russian Energy Minister Alexander Novak said that Russia is engaged in talks with Saudi Arabia regarding oil production.

Russia’s Sputnik news quoted the Russian Energy Minister, who replied with a clear “no” to the question of whether Saudi Arabia asked Russia to reduce its oil production.

Novak noted that the ongoing talks between Russia and Saudi Arabia are “very constructive.”

He refused to comment on the negotiations between the other OPEC member states but he did describe Moscow and Riyadh’s discussions as being “positive”.

OPEC is due to convene on 30 November to coordinate the reductions agreed upon in the Algerian capital last September. This may be in cooperation with Russia, despite the fact that it is not a member of OPEC.