Russian and Saudi energy ministers satisfied with oil market rebalancing - statement
"The market sees the efforts are successful and reacts - the prices have almost reached $70 per barrel," Novak told Falih, according to the ministry's web site.
The Organization of the Petroleum Exporting Countries and other producers, including Russia, are cutting oil output by 1.8 million barrels per day under a pact running until the end of 2018.
Oman will host the joint ministerial monitoring committee, known as the JMMC, on Sunday.
(Reporting by Vladimir Soldatkin; editing by Alexander Smith)