HANGZHOU (Sputnik) — At a meeting with Russian President Vladimir Putin on the sidelines of the G20 summit in China, Salman said:
"Our countries are the two largest ones in the oil market. There cannot be a stable policy in the field of oil without the participation of Russia and Saudi Arabia."
He added that further Moscow-Riyadh cooperation would lead to mutual benefits in regard to the further development of events in the oil market.
In the first half of 2016, the Russian oil industry output reached 272.4 million tonnes, up 2.9 percent year on year. In May, Russia surpassed Saudi Arabia in oil production.