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Energy Ministers of Russia, Saudi Arabia Holding Talks in Algeria

© Sputnik / Aleksey Nikolskyi / Go to the photo bankAlexander Novak, Energy Minister of the Russian Federation
Alexander Novak, Energy Minister of the Russian Federation - Sputnik International
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MOSCOW (Sputnik) – Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid Falih are holding a meeting in Algeria, the Russian Energy Ministry said Sunday.

"A meeting between Minister Alexander Novak and Minister of Minister of Energy, Industry and Mineral Resources of Saudi Arabia of Saudi Arabia Khalid Falih is underway," the ministry wrote on Twitter.

In this Saturday, Jan. 23, 2016, file photo, an oil pump stands as the Saudi Hawks Aerobatic Team of the Royal Saudi Air Force performs during the Bahrain International Airshow in Sakhir, Bahrain - Sputnik International
Oil Prices Feared to Spike as Saudi Arabia Runs Low on Popular Crude – Report
Novak has arrived in Algeria for the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC) meeting in Algiers scheduled for Sunday.

Earlier in the day, Alexander Novak said that the compliance of the Organization of the Petroleum Exporting Countries and non-cartel producers with the Vienna oil output deal reached 129 percent in August.

READ MORE: Iran and OPEC: How Will the Fight for Oil Production Quotas End?

This comes amid reports that OPEC and non-OPEC countries had agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.

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