OPEC-Russia meeting: Need for oil, energy markets' stability emphasized in Moscow

ALGIERS- The importance of oil and energy markets' stability to foster economic growth was stressed Friday at the ninth high-level meeting of OPEC-Russia energy dialogue in Moscow, the OPEC said in a joint statement, posted on the organization's website.

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Co-chaired by the deputy prime minister of the Russian Federation, Alexander Novak, and the secretary general of the Organization of the Exporting Countries (OPEC), Haitham Al Ghais, the meeting discussed developments on the global oil and energy markets as well as the outcome of the recent negotiations on climate change at the COP29 (November 11-22), held in Baku, Azerbaijan, the statement said.

Other oil and energy issues, including energy security, the risk of under-investment and the importance of market's stability to boost global economic growth, were also tackled.

The meeting also examined the short, medium and long-term outlook for energy markets," the statement said, stressing "the valuable and ongoing cooperation between OPEC and the Federation of Russia at the technical level and research."

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