OPEC Ministers to Meet Russia Amid Push to Extend Cuts
- Consensus is moving in direction of prolonging deal: Al-Falih
- Saudi minister will speak to Russian counterpart this week
Oil Resumes Slide on U.S. Stockpiles
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The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply.
Saudi Minister of Energy and Industry Khalid Al-Falih said that he will talk with Russia’s Alexander Novak by phone this week and meet him within the next two weeks. Venezuela’s Oil Minister Nelson Martinez was also planning to visit Moscow after talks in Algeria on Wednesday, said a person familiar with the matter.