Saudi Arabia hopes OPEC and allies will ink new cooperation deal in December

Saudi Arabian Energy Minister Khalid Al Falih, attends a news conference after a meeting of the 4th Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting in Vienna, Austria ob June 23, 2018.
Askin Kiyagan | Anadolu Agency | Getty Images
Saudi Arabian Energy Minister Khalid Al Falih, attends a news conference after a meeting of the 4th Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting in Vienna, Austria ob June 23, 2018.

Saudi Arabia hopes OPEC and other oil producers will sign a deal in December to extend cooperation to monitor and stabilize the oil market, said the kingdom's energy minister on Tuesday.

Khalid al-Falih said at an investment conference in Riyadh that the oil market was in a "good place."