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Saudi energy minister says he discussed oil market with US counterpart

Saudi energy minister says he discussed oil market with US counterpart

OPEC and Russia agreed on Friday to reduce production

Saudi Arabia’s energy minister Khalid al-Falih said in a tweet he had discussed the state of the oil market with US energy secretary Rick Perry on Monday in Dhahran, Saudi Arabia.

The meeting took place after OPEC and non-OPEC oil exporting countries rejected pressure from US president Donald Trump to further reduce oil prices by refraining from cutting production.

OPEC and its Russia-led allies agreed on Friday to reduce production by 1.2 million barrels per day from January.

Read: Oil prices climb on OPEC-led cuts

“We also discussed the kingdom’s efforts to develop technologies to reduce carbon emissions, energy efficiency and technical cooperation opportunities between the two countries,” he added in the tweet.

Commenting on US pressures, the UAE’s energy minister Suhail al-Mazroui said OPEC “won’t take instructions from anyone.” “Every country has a sovereign right,” he added at an event in Abu Dhabi.

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