Russia, OPEC+ to coordinate parameters of output deal by December 5 — energy minister

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Russian Energy Minister Alexander Novak

Russian Energy Minister Alexander Novak


© Artyom Geodakyan/TASS

BUENOS AIRES, December 2. /TASS/. Russia and OPEC+ will continue coordinating the parameters of the future deal ahead of the meeting of the OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) in Vienna scheduled for December 5, Russian Energy Minister Alexander Novak told reporters on Saturday.

“We want to coordinate approaches before the JMMC meeting in Vienna,” Novak said in response to a question on whether an agreement has been reached between Russia and Saudi Arabia on cutting output.

“Parameters will be further coordinated, before JMMC. I will not say anything about this now since talks continue,” he added. He declined to state whether Russia and Saudi Arabia have a common position on this issue.

On Saturday Russian President Vladimir Putin held talks with Saudi Arabia’s Crown Prince Mohammed bin Salman on the sidelines of the G20 summit in Argentina. The sides discussed the issue of regulating output in 2019, among other matters. Putin told reporters at a press conference that “an agreement has been reached on continuing cooperation.” He added that no final agreement has been achieved on output volumes.

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