Russian and US energy ministers discuss world oil market

US, WASHINGTON (ORDO NEWS) — The energy ministers of Russia and the United States discussed the current state of the world oil market and promising areas of cooperation, the RF Ministry of Energy said.

The energy ministers of Russia and the USA noted the need for a constructive response to existing challenges in the oil market and the continuation of the dialogue.

The US and Russia believe that falling demand and excess in the oil market do not contribute to the development of global energy.

“The ministers noted that falling demand and excess in the oil market do not contribute to the ongoing development of the global energy sector and pose risks of stable supply to the market after the start of the global economic recovery. In addition, the heads of energy departments noted the need for a constructive response to existing challenges and the subsequent continuation of the dialogue.” the message says.

The parties also discussed promising areas of cooperation between the two countries in the energy market through the G20 and the World Bank.

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