Russia, Saudi Arabia against impact from geopolitical schemes on oil market - Lavrov

MOSCOW, November 21. /TASS/. Russia and Saudi Arabia are against impact from geopolitical schemes on the oil market, Russia’s Foreign Minister Sergei Lavrov said on Friday following a meeting with Saudi Arabia’s Foreign Minister Prince Saud al-Faisal Al Saud. “As for the situation in the oil market, we and Saudi Arabia share the position that pricing should be market-based,” Lavrov said. “Offer and demand are playing major role here. We and our Saudi Arabia’s counterparts do not agree where the market receives impact from some political or geopolitical plans.” “Where the countries supplying oil to the international market see a misbalance between the demand and the offer, where they see how some players affect artificially the demand or offer, they have every right to take measures to eliminate the factors to return the market to its natural state. We believe this position is shared by many of our counterparts, who are exporting oil,” the Russian foreign minister said. He stressed once again Moscow and Riyadh share the opinion “the oil market should be free from attempts to affect it for political or geopolitical reasons.” Read more