HANGZHOU (Sputnik) – Russia and Saudi Arabia agreed on joint measures and steps in cooperation with other oil producers to stabilize the market and ensure stable long-term investment, a joint declaration signed by the Russian and Saudi energy ministers on Monday stated.
"In view of the above, the ministers noted the particular importance of constructive dialogue and close cooperation between the major producing countries in order to maintain stability in the oil market and sustainable investment in the long term," the joint statement reads.
Novak and Al Falih agreed to continue consultations and to establish a joint working group to monitor the fundamental indicators and develop recommendations for measures and joint actions to ensure the oil market’s stability and predictability, the statement adds.
