Reuters reports a statement issued by the Saudi Energy Ministry on Tuesday, citing that both the Saudi Arabian and Russian Energy Ministers agreed to continue close coordination in the interest of producers, consumers and the global economy.
Key Highlights:
Saudi Arabia’s Energy Minister Khalid Al-Falih met Russian Energy Minister Alexander Novak late-Monday and discussed the need to modify the current monitoring process accordingly and agreed to task a joint OPEC and non-OPEC committee known as the JTC with developing and recommending a suitable process to be considered by the Joint Ministerial Monitoring Committee (JMMC) panel.
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