Moscow and Riyadh will work to decrease oil stockpile: ministers
Both sides are still trying to find ways to coexist with US shale oil producers
Moscow
OPEC and non-Opec countries are committed to bringing global oil inventories down to the industry's five-year average, Saudi Energy Minister Khalid al-Falih said on Wednesday, adding he saw the target being reached in the very near future.
Speaking in Moscow after a meeting between Opec and Russia, Mr Falih and his Russian counterpart Alexander Novak also said they saw their cooperation in oil markets lasting after the current joint oil output agreement expires in March next year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
China State Shipbuilding to build 18 LNG ships for QatarEnergy
Shell earns US$1 billion a year from US crude trading, court filing shows
Gold eases as steady US dollar dampens appeal
Oil prices fall 1% on Israel-Hamas ceasefire talks, US inflation concerns
Hot stock: Don Agro surges after plans to sell 92.3% group assets for 4.5 billion roubles
China could hinder BHP’s bid to become copper’s top producer