​​​
  1. Russia, Saudi Arabia to set up task force to secure oil market stability

Russia, Saudi Arabia to set up task force to secure oil market stability

Russia and Saudi Arabia agreed to set up a task force to review oil market fundamentals and to recommend measures and actions that will secure oil market stability, according to a joint statement issued on the sideline of G20 summit on Monday.

By: | Beijing | Published: September 5, 2016 4:19 PM
Saudi Arabia has signed an agreement to seek cooperation in the oil market with Russia, Energy Minister Khalid al-Falih said at a news conference at the G20 in the eastern Chinese city of Hangzhou.(Reuters) Saudi Arabia has signed an agreement to seek cooperation in the oil market with Russia, Energy Minister Khalid al-Falih said at a news conference at the G20 in the eastern Chinese city of Hangzhou.(Reuters)

Russia and Saudi Arabia agreed to set up a task force to review oil market fundamentals and to recommend measures and actions that will secure oil market stability, according to a joint statement issued on the sideline of G20 summit on Monday.

Saudi Arabia has signed an agreement to seek cooperation in the oil market with Russia, Energy Minister Khalid al-Falih said at a news conference at the G20 in the eastern Chinese city of Hangzhou.

Russian Energy Minister Alexander Novak said at the news conference that cooperation with Saudi Arabia includes ways to stabilize global oil markets, including limiting oil output.

Russia and Saudi Arabia are the world’s first- and second-largest oil producers, respectively.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top