MOSCOW, October 11. /TASS/. Russian Deputy Prime Minister Alexander Novak and Saudi Arabian Energy Minister Prince Abdulaziz bin Salman will discuss the situation on the oil market later in the day at the Russian Energy Week (REW) in Moscow, as well as at the meeting of the intergovernmental commission on trade and economic cooperation.

"We have long worked together with Saudi Arabia on oil markets, coordinated actions within OPEC+, this is a major oil producer. Much depends on its approaches and position on market balance. We have had very good relations in recent years that enable us to act in a balanced way on the oil market," Novak told reporters.

"All current trends that are present on the market, will be discussed at the forum. Forecasts, of course. This is one of the main elements," he added.

Saudi Arabia’s Energy Minister Abdulaziz bin Salman is participating in the Russian Energy Week in Moscow. The meeting of the Russian-Saudi intergovernmental commission with his participation is also being held as part of the REW.

TASS acts as an information partner of the Russian Energy Week.