Russia's Novak, OPEC head discuss situation on world oil market

MOSCOW. June 19 (Interfax) - Russian Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais discussed the situation on global energy markets, including in light of the escalation of the conflict in the Middle East, and a number of other industry issues at a meeting on Wednesday, the organization said in a press release.

The talks were held as part of the Tenth High-level Meeting of the OPEC-Russia Energy Dialog, which took place on the sidelines of the St. Petersburg International Economic Forum.

The talks touched on issues such as energy security, the risk of underinvestment and the importance of market stability in driving global economic growth, OPEC said.

"Russia highly appreciates the effectiveness of cooperation within OPEC+. Thanks to regular and trusting working contacts, including with the OPEC Secretariat, it is possible to compare positions in advance, develop agreed approaches, and make decisions at our ministerial meetings that take into account the interests of each OPEC+ member," Novak was quoted as saying in the press release.

The next OPEC-Russia Energy Dialog meeting will be held in the Austrian capital of Vienna in 2026.