Russia’s energy minister told reports on Tuesday of his talk with his Saudi counterpart last week in Istanbul during the G20 energy ministers meeting, reported Rigzone.
“We discussed the situation on the market in Istanbul, held consultations, exchanged views on demand, production, the shale oil revolution, (and) agreed to continue consultations,” Alexander Novak said.
He explained that he did not see a risk that relations between Russia and Saudi Arabia would worsen and said he had discussed global oil markets with Saudi Oil Minister Ali al-Naimi.
Novak added that a meeting of the Russia-Saudi Arabia intergovernmental commission was scheduled for the end of October or the beginning of November.
According to Trade Arabia, Novak insisted that Russia was ready to meet with Opec and non-Opec producers to discuss the market.
Opec’s Secretary-General Abdullah Al Badri had said that his organization should work together with producers outside Opec to tackle oil prices.
Novak’s first deputy, Alexei Texler, however had said last week that Russia would stick to its plans as regards Opec, which meant not cooperating with the organization.