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Saudi Arabia is trying to persuade Russia to cut its oil output significantly to halt price declines
Saudi Arabia is trying to persuade Russia to cut [url=https://www.thebaghdadpost.com/ar/Story/t/3506/%D8%A5%D9%86%D8%AA%D8%A7%D8%AC %D8%A7%D9%84%D9%86%D9%81%D8%B7]oil output[/url] significantly with OPEC next year in a bid to halt the fall in crude prices and prevent a new supply crunch.
OPEC meets in Vienna on Thursday, followed by talks with allies such as Russia on Friday.
Saudi Arabia, the world's largest producer, has hinted at the need for deep cuts in production from January but is under pressure from US President Donald Trump to push oil prices further down.
Russian Energy Minister Alexander Novak told reporters he had held a "good" meeting with his Saudi counterpart Khaled al-Falih on Wednesday, adding that they would hold further talks.
The Saudi Arabia to desire OPEC to cut production and its allies , including at least 1.3 million barrels per day, equivalent to 1.3% of global production.
OPEC and outside OPEC sources said Riyadh wanted Moscow to contribute at least 250 to 300,000 barrels per day (bpd), but Russiainsisted the figure should be only half that.
Omani Oil Minister Mohammed bin Hamad al-Rumahi said he believed OPEC and its allies would reach agreement this week on reducing oil production.
He said bin Mohammed Suhail Al Mazroui , UAE Energy Minister told reporters in response to a question on the position of Russia , "it 's not easy but we will work always in partnership with our colleagues."
"No one wants to cut unless there is a need," said a source close to the Russian Energy Ministry.
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