Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak discussed, during a meeting between them in Riyadh, the developments of the oil market conditions and the cooperation between the two countries within the framework of the OPEC Plus Group.
In their capacity as the heads of the two sides in the “Joint Governmental Committee for Commercial, Economic, Scientific and Technical Cooperation between Saudi Arabia and Russia”, the aspects of bilateral cooperation between the two countries were reviewed within the competencies of the committee, and follow -up of progress made since the eighth session of the committee, where it was recently announced that direct flights between the two countries, and a number of memoranda of understanding in multiple areas such as industry, education, media, and pilgrimage signed And Umrah, according to a statement issued by the Saudi Ministry of Energy.
It has also been discussed about the opportunities to enhance trade exchange, expand the horizons of joint economic cooperation, and discuss the ongoing arrangements for the ninth session of the Joint Governmental Committee, which was decided in Riyadh on November 6, 2025.
The statement stated that during the meeting, the developments of the oil market conditions were discussed and the cooperation between the two countries within the framework of the OPEC Plus group.
The Russian “Interfax” news agency reported that Novak and Abdel Aziz bin Salman discussed the oil market and the prospects for cooperation between the two countries within the framework of the “OPEC Plus” group.
The joint ministerial monitoring committee of «OPEC Plus» announced during a video meeting, last Monday, the need to fully comply with oil production agreements, before a separate meeting next Sunday for eight members of OPEC Plus to take a decision regarding the increase in oil production for the month of September. It is likely to agree to another increase of 548 thousand barrels per day for the month of September.
Goldman Sachs expects that OPEC Plus will announce a final increase in production of 0.55 million barrels per day for September.
