MOSCOW (Sputnik) – Russia is planning to meet with Saudi Arabian counterparts in November to discuss the current oil market, Energy Minister Alexander Novak told reporters Wednesday.
"The meeting with Saudi Arabia, as well as with the Iranians will be held in November," Novak said, adding that consultations continue.
Earlier on Wednesday, Novak stated that officials from the Russian Energy Ministry would take part in an expert meeting of the Organization of the Petroleum Exporting Countries (OPEC) on October 21.
Oil prices around the world dropped from $100 to $50 per barrel for Brent crude beginning in mid-2014, due to global oversupply. In November 2014, OPEC chose to maintain oil production levels, accelerating the price decline.
