Following studying the latest data on the oil markets, the two ministers expressed identical viewpoints in this regard, stressing that the oil market fundamentals are improving. They pointed out, in particular, to the inventory decline in the United States for five consecutive weeks. They also expressed satisfaction with the OPEC statement issued at the end of its extraordinary meeting in Algiers on 28, September, 2016, as well as statements of support issued by other producing countries in 10, October, 2016 in Istanbul. The two ministers stressed that the Kingdom of Saudi Arabia and Russia are committed to working with each other and with all OPEC and non-OPEC producing countries to help improve the fundamentals of the global oil market which will benefit producers, consumers, the energy sector and the global economy alike. The two ministers also confirmed their intention to hold further consultations in Riyadh later this month. --SPA 19:01 LOCAL TIME 16:01 GMT www.spa.gov.sa/w