ALGIERS (Pakistan Point News / Sputnik - 23rd September, 2018) Saudi Energy Minister Khalid Falih announced on Sunday that a draft declaration of cooperation with other countries participating in the Vienna agreement on oil production cuts was ready and was set to go through finalization and approval in December.
"We have been in consultations with other countries of Declaration of Cooperation, but especially with [Russian Energy Minister Alexander] Novak and also [UAE Energy Minister] Suhail Mazrouei and we have come up with a draft declaration of cooperation that does not have an end date, that will be evergreen, that will allow us to continuously coordinate, monitor and intervene if and when necessary to bring markets back to balance. This is absolutely necessary," Falih said.
"We expect the ministers [to] sign and approve [the declaration] in December and subsequently there will be a continuous scheduled coordination at technical levels, ministerial meetings and hopefully there will be a summit to launch this charter in action," he added.
