ISTANBUL
Saudi Arabia looks forward to a constructive position of Russia in the issue of energy prices, said the Minister of energy, industry and mineral resources of the Kingdom, Khalid al-falih in the framework of the 23rd world energy Congress in Istanbul.
According to the Minister, the Congress is scheduled to meet with the head of the energy Ministry of Russia Alexander Novak.
Stressing that the price of oil is determined not by Riyadh, and the markets, al-falih said that Saudi Arabia aims to balance supply and demand on the raw materials market.
The Minister did not rule out the possibility that oil prices until the end of the year reached $ 60 per barrel.
“The member countries of OPEC and producers outside the cartel must agree on their positions. This issue will be discussed in Istanbul. I’m optimistic in the matter of approval of a package of proposals to the next meeting of OPEC, scheduled for November 20 in Vienna”, – said the head of Department.
