Saudi Arabia hopes to reach agreement on oil at OPEC meeting

Saudi Arabia’s Energy Minister Khalid al-Falih said Sunday that he expects that oil producing states will reach a common decision at the meeting of the Organization of the Petroleum Exporting Countries (OPEC) in late November, Sputnik reports.

"Today our meeting is an important point in coordinating the process of reaching an agreement between the OPEC [member] states and the other oil producing countries in late November," al-Falih said.

"Today’s meeting is the best demonstration of Saudi Arabia’s intention to stabilize the oil market," al-Falih added, stressing that Russia and Saudi Arabia will express the viewpoint which will become an encouraging sign for the oil market.