- Russia's Novak Says Did Not Discuss With Saudi Energy Minister Need to Change Oil Prices
Russia's Novak Says Did Not Discuss With Saudi Energy Minister Need To Change Oil Prices
Russian Energy Minister Alexander Novak said on Wednesday that he had not discussed the need to change global oil prices during a Tuesday meeting with his new Saudi counterpart, Prince Abdulaziz bin Salman
Bin Salman took over as energy minister from Khalid Falih on Sunday. The news on the appointment came as a surprise for most energy industry officials who questioned whether Riyadh would stick to the OPEC+ deal on global output cuts.
Of course, we talked about prices, but we did not discuss issues regarding the need to change anything, market prices are formed, and our task is to oversee the fulfillment of the agreement and market fundamentals," Novak told reporters.
In late June, Russian President Vladimir Putin met with Saudi Crown Prince Mohammed bin Salman on the sidelines of the G20 summit in Japan's Osaka to discuss further implementation of the OPEC+ deal on oil output cuts, which is aimed at bolstering oil prices amid an oversaturated global oil market.