March 20, 2020 / 8:20 PM / 20 days ago

Russia's Rosneft CEO says we need to maintain contacts with Saudi Arabia - RIA

MOSCOW, March 20 (Reuters) - Russia and Saudi Arabia need to maintain contacts, Igor Sechin, chief executive with Russia's top oil producer Rosneft, was quoted as saying by RIA news agency on Friday.

"I have no doubts that contacts should continue. These two (Russia and Saudi Arabia) are the largest oil producers, and of course, we need to cooperate, to exchange information," Sechin said, according to RIA.

He added that Rosneft was prepared for a dramatic fall in oil prices which followed a collapse of existing oil output cut deal between OPEC and non-OPEC nations, saying that global oil prices may return to $60 per barrel by end-2020 if shale oil will be forced out of the market. (Reporting by Olesya Astakhova, Maria Tsvetkova and Polina Ivanova, writing by Katya Golubkova, Editing by Franklin Paul)

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