DAVOS (Sputnik) — Saudi Arabia and Russia will seek to ensure that all those impacted by the oil producers' output cut benefit from the 2016 market stabilizing deal between the Organization of the Petroleum Exporting Countries (OPEC) and producers outside the cartel, Saudi Energy Minister Khalid Falih told Sputnik on Thursday.
"We want to make sure that we are doing the right thing for all of our stakeholders — producers from OPEC and non-OPEC, the consumers, the global economy — and that we have acceptance from all of these stakeholders," Falih said, asked about his agenda for the upcoming bilateral meeting with Russian Energy Minister Alexander Novak in Vienna.
Earlier in the day, Falih said a bilateral meeting with Novak is set to take place on the sidelines of the upcoming session of the monitoring committee on the output cut deal between OPEC and non-OPEC oil producers which Russia is part of. The committee is due to meet in Vienna on January 21-22.
"We intend that relationship between OPEC and non-OPEC, certainly, Russia and Saudi Arabia, to be a long-term relationship," Falih added.
Chaired by Kuwait from the OPEC side and Russia from the non-OPEC side, the committee also includes Oman, Venezuela and Algeria.
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