Saudi energy minister Khalid al-Falih is looking to build on recent close cooperation with Russia in managing the oil market with investments to boost the Saudi downstream.
“Given the success of two years’ coordination between KSA and Russia,” Mr Falih said in a 22 October interview with Russian news agency Tass, “we need to establish the framework for long-term coordination.” The current Opec+ deal expires at the end of 2018, but Mr Falih wants this to be replaced by an open-ended deal “that does not expire after 2020 or 2021.” (CONTINUED - 1697 WORDS)
