The head of Russia’s sovereign wealth fund said cooperating with Saudi Arabian Oil Minister Khalid al-Falih has been fruitful. File Photo by Lisi Niesner/EPA June 25 (UPI) — The head of Russia’s sovereign wealth fund said Monday that coordinating with Saudi Arabia consolidated its leadership position in the global oil market. Russian Energy Minister Alexander Novak sat next to his Saudi counterpart, Khalid al-Falih, at a regular meeting for the Organization of Petroleum Exporting Countries that wrapped up during the weekend in Vienna. Russia is the largest non-OPEC contributor to an effort to stabilize the oil market through coordinated production efforts. Kirill Dmitriev, the CEO of the Russian Direct Investment Fund, said in a statement emailed to UPI that long-term cooperation with Saudi Arabia would help guarantee a stable price for crude oil. “The Russia-Saudi alliance has already demonstrated its leading role,” he said. Novak added his signature to […]