- Title: Saudi Arabia looks to Russia to boost non-OPEC cooperation
- Date: 23rd October 2016
- Summary: RIYADH, SAUDI ARABIA (OCTOBER 23, 2016) (REUTERS) **** WARNING CONTAINS FLASH PHOTOGRAPHY **** VARIOUS OF ATTENDEES OF GULF COOPERATION COUNCIL MEETING GATHERING FOR FAMILY PHOTO FLAG BY WALL DELEGATES STANDING BY WALL DELEGATES SITTING ROUND TABLE DURING MEETING (SOUNDBITE) (Arabic) SAUDI ARABIA'S ENERGY MINISTER, KHALID AL-FALIH, SAYING: "Russia is one of the world's biggest oil producers and is one of the influential parties in the stability of the oil market. The visit of his Excellency Russian oil minister today to the Kingdom is favourable and gives us the opportunity to review market developments and scenarios of work to restore stability to the oil markets through cooperation between the OPEC countries and the countries from outside OPEC, especially the Russian Federation." VARIOUS OF DELEGATES LISTENING (SOUNDBITE) (Arabic) SAUDI ARABIA'S ENERGY MINISTER, KHALID AL-FALIH, SAYING: "His Excellency expressed his welcome to the visit and that is a clear indication of sincere desire to continue cooperation and coordination with the oil producing and exporting countries for more stability in the market." DELEGATES LISTENING (SOUNDBITE) (Arabic) SAUDI ARABIA'S ENERGY MINISTER, KHALID AL-FALIH, SAYING: "The Algeria meeting at the World Energy Forum last month was successful in pushing the path of cooperation between oil producing and consuming countries and included important talks between experts from OPEC countries and outside of OPEC about oil markets." DELEGATES APPLAUDING
- Embargoed: 7th November 2016 12:26
- Keywords: Saudi Arabia Riyadh oil OPEC Russia Khalid al-Falih
- Location: RIYADH, SAUDI ARABIA
- City: RIYADH, SAUDI ARABIA
- Country: Saudi Arabia
- Topics: Government/Politics,International Trade
- Reuters ID: LVA00155857BB
- Aspect Ratio: 16:9
- Story Text: Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday (October 23) he had invited his Russian counterpart Alexander Novak to meet Gulf Arab energy ministers in Riyadh as part of efforts to cooperate with non-OPEC members to stabilize the oil market.
"Russia is one of the world's biggest oil producers and is one of the influential parties in the stability of the oil market," Falih said at the opening session of the six-member Gulf Cooperation Council (GCC).
Falih said Novak had welcomed the invitation - "a clear indication of sincere desire to continue cooperation and coordination with the oil producing and exporting countries for more stability in the market".
Novak had said on Friday (October 21) he would take "some" proposals to the meeting in Riyadh.
Last month in Algiers, the Organization of the Petroleum Exporting Countries agreed modest oil output cuts. The goal is to cut production to a range of 32.50-33.0 million barrels per day. - Copyright Holder: REUTERS
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