Novak and al-Falih discuss possible options for future OPEC+ meeting

Russian Energy Minister Alexander Novak held a bilateral meeting with his Saudi counterpart Khalid al-Falih on the sidelines of the St. Petersburg International Economic Forum (SPIEF) yesterday evening.

"We discussed [possible options]. But we did not make any decisions. We will continue to monitor [the situation]," Novak said after the talks. 

"We discussed the market situation and agreed to continue to cooperate on the oil market. This is what matters the most. All the decisions that can be made, will be made in July," TASS cited the minister as saying.

According to Novak, now efforts are being taken to postpone the meeting to July 4. "This option is being coordinated with all the countries concerned," he added.

According to the Russian minister, Saudi Arabia agreed to postpone the meeting to this date. Novak also said they had discussed with the Saudi minister the upcoming meeting of the intergovernmental commission.