Russia and Saudi Arabia coordinate their actions on the world oil market to support stable and mutually acceptable prices of energy resources, Russian Foreign Minister Sergei Lavrov said on Wednesday at a news conference upon the results of talks with Saudi counterpart Adel bin Ahmed Al-Jubeir, TASS reports.
"We’ve praised this high level of coordination between our companies and our countries on the world market of hydrocarbons," he said. "It aims to ensure balance between supply and demand and to maintain the prices of energy resources that would suit both producers and consumers."
Lavrov called attention to active collaboration between Russian and Saudi producers of crude oil and natural gas.
"Ties between Saudi Aramco and Novatek, Gazprom, Gazprom Neft, and Sibur have been established," he said. "We’re pondering promising contacts under the aegis of Rosneft."