Saudi Arabia says OPEC+ to hold summit in January

Saudi Energy Minister Prince Abdulaziz bin Salman announced that OPEC+ will hold an online summit in January to discuss the developments of the oil market.

“We wish the world’s efforts could put an end to the pandemic outbreak over the coming few months. Riyadh and Moscow are due to hold talks in March, a meeting hoped to be ‘in person’,” Prince Abdulaziz said during a press conference with Russian Deputy Prime Minister Alexander Novak.

The Saudi-Russian cooperation reached an advanced stage, marked by several visits between both countries, Novak said.

“We mapped out plans over the post-pandemic oil market,” Novak said, adding that mutual coordination is necessary to maintain the oil market stability.

Both countries inked $5 billion worth of agreements and agreed to develop a roadmap for mutual cooperation, Novak noted.