Continued High-Level Dialogue between OPEC and Russia

[Joint Press Release] As part of the long established OPEC-Russia Energy Dialogue, HE Alexander Novak, Minister of Energy of the Russian Federation and HE Abdalla Salem El-Badri, OPEC Secretary General, held a meeting at the OPEC Secretariat in Vienna, 25 September 2012. The meeting was attended by a high-level delegation from the Russian Federation and senior officials from the OPEC Secretariat.

The Parties exchanged views on the current oil market situation and underscored the importance of stable and predictable markets for the long-term health of the industry and investments, and above all, the well-being of the global economy.

In addition, the Russian Federation's Presidency of the G-20 in 2013 and the prospects for cooperation from OPEC were discussed.

The Parties also proposed to broaden their cooperation and discuss the possible establishment of a joint working group focused on information exchange and analysis of the petroleum industry.

It was agreed that the next high-level meeting will be held in the second quarter of 2013.