Saudi Arabia hopes Russia to join OPEC

Saudi Arabia expects that Russia will soon apply for membership in OPEC, the country’s minister of oil Khalid al-Falih said today.

"We invited Russia as an observer and associate member, and we hope that they will consider our proposal and submit an application. I can assure you that the rest of the OPEC members will be only happy about this development,’’ the minister said during the press-conference.