Saudi Arabia and Russia 'committed to Opec+ targets', ministers say

Saudi energy minister Prince Abdulaziz bin Salman and Russian Deputy PM Alexander Novak met in Riyadh on Friday

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman met Deputy Prime Minister Alexander Novak to discuss oil. Reuters

Russia and Saudi Arabia remain remain firmly committed to the goals of the Opec+ agreement to preserve market stability and balance supply and demand in the global oil markets, the Russian government said on Friday as officials from both sides met in Riyadh.

The comments came as Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday to discuss co-operation before a gathering of Opec+ members.

The two discussed the latest developments in the work of a joint Saudi-Russian committee and probed opportunities for co-operation between the two countries, the ministry said on Twitter.

Their meeting came before an Opec+ meeting set for August 3 at a time of surging oil prices and inflation.