Saudi Energy Minister Prince Abdulaziz meets Russian deputy PM to discuss cooperation

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Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met on Friday with Russian Deputy Prime Minister Alexander Novak to discuss the latest developments in the work of the Saudi-Russian joint committee, according to a tweet by the Saudi Energy Ministry.

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The two discussed the latest developments in the work of the joint Saudi-Russian committee and discussed opportunities for cooperation between their countries, the ministry added.

Their meeting came ahead of an OPEC+ meeting set for August 3. Both Saudi Arabia and Russia are part of OPEC+.

A senior administration official recently said the US is optimistic that there could be some positive announcement when OPEC+ meets next week, adding that additional oil supplies would help further stabilize the market.

The official said this was based on conversations during President Joe Biden’s bilateral and multilateral meetings on his recent visit to Saudi Arabia, but that “these are decisions that OPEC members have to make and we respect that process.”

“We are optimistic based on the conversations we had about this next OPEC+ meeting,” the official, who declined to be named told reporters.

“We think that, obviously, additional supply would certainly help even further stabilise the market and potentially bring prices down.”

With Reuters

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