DHAHRAN: Russian Energy Minister Alexander Novak met Saudi Energy Minister Khalid Al-Falih Saturday to discuss the oil industry developments, according to Saudi Aramco.
Novak earlier said Russia will produce 548 million tons (11 million barrels per day) of oil next year, a post-Soviet record, according to Reuters.
But he said Russia still wants global producers to curb production amid weak prices.
Russia, a leading oil producer, expects OPEC to find common ground on capping oil production. OPEC is to hold its regular meeting in Vienna on Nov.30.
He earlier said he would take “some” proposals to a meeting with Minister Khalid Al-Falih and he believed an oil output freeze was still necessary.
Asked about the need for an oil output freeze, he said: “Yes, this is our main position, it has not changed.”
Novak said that he will also discuss coordination on oil markets with the OPEC secretary general.


