By Mohamed Samir.
Saudi Arabia and Oman called for continued cooperation between OPEC and its allies (OPEC+) to stabilise global oil markets, both countries said in a joint statement on Monday.
Oil prices have been moving sideways over the last week since the OPEC+ meeting was called off as members couldn’t agree on output.
On Monday, oil dropped by around $1 over global economic growth concerns.
The Kingdom of Saudi Arabia is the top producer in OPEC, while Oman is a member of the OPEC+ which includes 24 member countries most prominent of which is Russia.
The OPEC+ did not yet decide on the date for a new meeting.