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Russia's Novak discusses global oil market situation with OPEC secretary general, government says

Published by Global Banking & Finance Review

Posted on June 18, 2025

1 min read

· Last updated: January 23, 2026

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Russia's Novak discusses global oil market situation with OPEC secretary general, government says
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MOSCOW (Reuters) -Russian Deputy Prime Minister Alexander Novak has discussed the situation on the global oil market with OPEC Secretary General Haitham Al Ghais, the Russian government said in a

Russia's Novak discusses global oil market situation with OPEC secretary gene...

MOSCOW (Reuters) -Russian Deputy Prime Minister Alexander Novak has discussed the situation on the global oil market with OPEC Secretary General Haitham Al Ghais, the Russian government said in a statement on Wednesday.

"The parties discussed the situation on the global oil market, in particular in connection with the escalation of the conflict in the Middle East, and cooperation between Russia and OPEC both bilaterally and within the framework of the OPEC+ agreement," the government said.

Russia highly appreciates the effectiveness of cooperation within OPEC+, Novak said.

(Reporting by Reuters; Editing by Chris Reese)

Key Takeaways

  • Russia's Novak met with OPEC's Al Ghais to discuss the global oil market.
  • The discussion focused on the Middle East conflict's impact on oil.
  • Russia values its cooperation with OPEC+.
  • Bilateral and OPEC+ framework cooperation were key topics.
  • The meeting highlights ongoing global oil market challenges.

Frequently Asked Questions

Who discussed the global oil market situation?
Russian Deputy Prime Minister Alexander Novak discussed the global oil market situation with OPEC Secretary General Haitham Al Ghais.
What was a key topic of discussion between Novak and Al Ghais?
They discussed the global oil market situation, particularly in connection with the escalation of the conflict in the Middle East.
How does Russia view its cooperation with OPEC?
Russia highly appreciates the effectiveness of cooperation within OPEC+, as stated by Novak.

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