The International Energy Agency expects America to become the world's leading oil exporter, with its shale boom keeping a lid on the crude futures that OPEC and its allies hope to boost.
"We are always ready to develop a dialogue on energy between our countries," Novak told CNBC in an exclusive interview.The minister's comments come shortly after the conclusion of the Joint Ministerial Monitoring Committee in Abu Dhabi, with OPEC allies agreeing to ask over-producing members to bring production back in line with their targets.
"With regard to the possibility developing relations with the minister of energy for the United States, I am in contact with him, we are always ready to develop a dialogue on energy between our countries," Novak told CNBC's Hadley Gamble in an exclusive interview. "But the ball isn't in our court." Many major oil producers have struggled to bring in oil revenue to meet their budget needs as prices remain depressed in a low demand environment. The U.S.-China trade war and increased supply coming in from America's shale fields have kept a lid on crude futures, despite production cuts orchestrated by OPEC and its non-OPEC partners, the latter of which have been led by Russia.
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