Saudi Arabia denies contact with Russia to balance oil markets

Saudi Arabia has denied making any contact with Russia with the intention of balancing the oil market amidst the massive global price fall, RT reported on Friday.

In a statement issued by the Saudi Energy Ministry, the Saudi kingdom, which is the largest oil producer in the region, dismissed reports about discussions with Russia aiming to revive the OPEC+ alliance.

“There has been no contact between Saudi Arabian and Russian energy ministers over any increase in the number of OPEC+ countries, nor any discussions of a joint agreement to balance oil markets,” the statement revealed.

The statement was issued after news reports that a senior Russian official had contacted Riyadh and discussed possibilities to increase the number of OPEC+ alliance countries, in order to pave the way for a common agreement that controls oil markets.

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