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Russia, Saudi Arabia, Mexico, Venezuela to hold talks on oil market situation

November 25, 2014, 17:06 UTC+3
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VIENNA, November 25 /TASS/. Delegations of Russia, Saudi Arabia, Mexico and Venezuela will meet in Vienna to discuss the situation on the oil market, Venezuelan Foreign Minister Rafael Ramirez said on Tuesday.

“We are going to discuss the situation on the oil market and necessary coordination measures. If you want the news, this meeting is very important. The most important thing is what we are saying,” Ramirez said adding it was the first time the meeting would be held in such a format.

Saudi Arabian Oil Minister Ali al-Naimi will meet with delegations of Russia, Venezuela and Mexico to discuss the current market situation and measures to support the oil prices, Ramirez said, adding that Russia and Mexico were not the members of the Organization of the Petroleum Exporting Countries (OPEC).

Russia’s delegation includes Energy Minister Alexander Novak and Rosneft CEO Igor Sechin.

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