Russia and Saudi Arabia to sign a joint statement to stabilize the oil market
Date: 09/05/2016 12:52
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Information / Baghdad ..
Signed Russia, Saudi Arabia, on Monday, a joint statement requires joint actions in order to achieve stability in the oil market, which suffers from excessive glut in supply.
Under the agreement Moscow and Riyadh will take joint measures to coordinate with other producers of oil in the world, to maintain the stability of oil prices, which fell by more than 60% since mid-2014.
The joint statement signed by Russian Energy Minister, Alexander Novak and his Saudi counterpart, Khaled al-Faleh on the sidelines of the top twenty in China, according to the channel "RT": "Both sides underline the importance of constructive dialogue and cooperation among the largest producing countries in order to support stability in the oil market, providing fixed investment in the long term level, so the two ministers agreed to work together or in coordination with other producers of oil. "
The two ministers also agreed to establish a joint working group for cooperation in the field of oil and gas, that monitor and assess the situation in the oil market, it will be held this working group first meeting in October / October.
At a joint press conference between the Russian energy minister and the Saudi, Novak announced that Russia and Saudi Arabia, they move to a strategic partnership in the field of energy. Novak said: "In practice today we have opened a new era of cooperation, cooperation in the field of energy between us moving to close cooperation strategically. This has become possible thanks to the trust relationships with its Arab friends. " Finished / 25