"A meeting between Minister Alexander Novak and Minister of Minister of Energy, Industry and Mineral Resources of Saudi Arabia of Saudi Arabia Khalid Falih is underway," the ministry wrote on Twitter.
Novak has arrived in Algeria for the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC) meeting in Algiers scheduled for Sunday.
Earlier in the day, Alexander Novak said that the compliance of the Organization of the Petroleum Exporting Countries and non-cartel producers with the Vienna oil output deal reached 129 percent in August.
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This comes amid reports that OPEC and non-OPEC countries had agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.