2005 News Story

Saudi Arabia and Russia working for oil market stability

Minister of Petroleum and Mineral Resources Ali Al-Naimi confirmed yesterday that Saudi Arabia and the Russian Federation, as the largest oil-producing countries in the world, are working together to ensure stability in the global oil market. Speaking on the occasion of the visit to the Kingdom by a Russian delegation, Minister Al-Naimi referred to the cooperation that exists between the two countries, and their concern to maintain stable oil prices in the interests of the global economy. The visiting delegation was received by Deputy Prime Minister and Commander of the Naitonal Guard Crown Prince Abdullah bin Abdulaziz, and also met with Minister of Foreign Affairs Prince Saud Al-Faisal. Today the delegation will hold talks with Saudi businessmen at the Riyadh Chamber of Commerce and Industry (RCCI).