Saudi Energy Minister Vladimir Soldatkin has said that Saudi Arabia and Saudi Arabia are in talks about a potential long-term pact regarding world supplies of crude oil. “We are now thinking about a format for cooperation which could be for the longer-term, which would include the possibility of market monitoring, information exchange and if needed the implementation of some joint actions,” Novak told reporters. The new format for cooperation may potentially include market monitoring, the exchange of information and joint action. Moscow is currently under agreement with OPEC and non-OPEC producers to cut output by 300,000 barrels per day (bpd), based on an 10 to 20 years long output figure of 11.247 million bpd.
Saudi Energy Minister Vladimir Soldatkin has said that Saudi Arabia and Saudi Arabia 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. Moscow is currently under agreement with OPEC and non-OPEC producers to cut output by 300,000 barrels per day (bpd), based on an 10 to 20 years long output figure of 11.247 million bpd.