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Russian, Gulf Arab Oil Ministers Meet as OPEC Cut Looms

  • Russia’s Novak joins Saudi Arabia’s Al-Falih in Gulf oil talks
  • Saudis working with Russia to stabilize oil markets: Al-Falih
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Russia, Saudi Oil Ministers Meet as OPEC Cut Looms

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Russia’s energy minister met with counterparts from Saudi Arabia and other Arab Gulf oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices.

Ministers from Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates gathered in Riyadh for oil talks at the offices of the Gulf Cooperation Council secretariat. Russian Energy Minister Alexander Novak met with them later on Sunday for a separate round of talks and was expected to speak afterward at a news conference. Oman was the only one of the GCC’s six members not attending.