Russia and Saudi Arabia discuss monitoring of OPEC+ deal

Russian Energy Minister Alexander Novak and Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid Al-Falih held a telephone conversation today, the Russian Energy Ministry said in a statement.

According to the ministry, Russia and Saudi Arabia agreed to ask the technical committee to develop a procedure for changing the methodology for monitoring the OPEC+ deal to reduce oil production.

"We touched upon the question of changing the monitoring methodology in the light of our objective to reduce the level of deal implementation to 100% according to the statement of OPEC and non-OPEC countries. The ministers agreed to ask the Joint Technical Committee to develop appropriate procedures and take it to the Monitoring Committee," TASS cited the ministry as saying.