BEIJING, Sept 5 Russia and Saudi Arabia agreed
to set up a task force to review oil market fundamentals and to
recommend measures and actions that will secure oil market
stability, according to a joint statement issued on the sideline
of G20 summit on Monday.
Saudi Arabia has signed an agreement to seek cooperation in
the oil market with Russia, Energy Minister Khalid al-Falih said
at a news conference at the G20 in the eastern Chinese city of
Russian Energy Minister Alexander Novak said at the news
conference that cooperation with Saudi Arabia includes ways to
stabilize global oil markets, including limiting oil output.
Russia and Saudi Arabia are the world's first- and
second-largest oil producers, respectively.
(Reporting by Ruby Lian in HANGZHOU and Josephine Mason in
BEIJING; Editing by Christian Schmollinger)