Saudi Arabia, Russia discuss boosting oil output capacity

Saudi Arabia and Russia, the world’s two biggest oil producers, discussed increasing their output capacity to meet surging world demand, the official SPA news agency reported.

Saudi Oil Minister Ali al-Nuaimi and the director of the Russian Federal Energy Agency Sergei Oganesian discussed cooperation between the two producers to stabilise oil markets, SPA said.

‘This (cooperation) includes increasing oil production capacity to face the hiking world demand in the coming years,’ SPA added

Forbes