"Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid Falih held a working meeting in Moscow. The ministers discussed the current state of the market, as well as bilateral cooperation. [The sides] noted a good level of dynamics in the development of cooperation in energy and industrial areas," the ministry said in a statement.
"The sides also reaffirmed their intention to continue working on the creation of a long-term structure of interaction between of OPEC [Organization of the Petroleum Exporting Countries] and non-OPEC nations, in order to ensure predictability and stability on the market, in the interests of all market participants, both producers and consumers," the ministry added.
The Russian Energy Week was first conducted in 2017 and works as a platform for demonstrating the prospects of Russia's fuel and energy industry and searching the potential of international collaboration in the field.