Novak and Saudi Arabia’s Minister of Energy, Industry and Natural Resources, Khalid bin Abdulaziz Al Falih, signed a joint statement to step up cooperation in stabilizing the oil market and ensuring stable long-term investment earlier in the day.
“I am confident that this is a new stage in relations between the countries that are members and non-members of OPEC. This is a historic moment in my opinion,” Novak told reporters.
“We are in fact opening a new era of cooperation, our energy cooperation is entering into a deeper and closer interaction, into strategic partnership. This was made possible because of a trusting relationship with our Arab friends,” he told reporters.
Novak added that the likelihood of a previously abandoned output freeze "could significantly bring closer the date of the relevant market balance."
"This is a big job and it has been discussed since the beginning of the year. Russia has always treated this quite positively. We are ready to join if this decision made," he stressed.