Mubasher: Global oil prices advanced on Friday to continue a bullish performance for the fourth successive day, backed by positive statements.
Russian Energy Minister Alexander Novak said Thursday that Saudi Arabia proposed a cut in oil output of both countries by up to 5% to support weak oil prices, according to CNBC.
The minister told reporters that there is a proposal to hold a meeting between OPEC member states and producers outside the cartel and that Russia is prepared to attend the meeting.
Meanwhile, Qatar's Emir Sheikh Tamim bin Hamad Al Thani said the energy price fluctuations is 'normal', stressing that there is no room for panic.
