Russian Energy Minister Alexander Novak has said that Saudi Arabia and Russia are in talks about a potential long-term pact regarding world supplies of crude oil. The new format for cooperation may potentially include market monitoring, the exchange of information and joint action. Novak said on Tuesday he and his Saudi counterpart, Khalid al-Falih, discussed long-term cooperation and that the current “mechanism of interaction” had proved to be effective. In an interview with Rossiya 24 TV channel on Tuesday, Novak, who is also deputy chairman of Russia’s energy committee, stressed that “oil prices will remain high until 2030.”
Russian Energy Minister Alexander Novak has said that Saudi Arabia and Russia are in talks about a potential long-term pact regarding world supplies of crude oil. The new format for cooperation may potentially include market monitoring, the exchange of information and joint action. In an interview with Rossiya 24 TV channel on Tuesday, Novak, who is also deputy chairman of Russia’s energy committee, stressed that “oil prices will remain high until 2030.”