Russia has said that it would meet Opec in June to discuss the impact of shale oil on global markets, just days before the producers’ group decides whether its policy of high production is sufficient to stifle the US energy boom.

The comment, from Russian Energy Minister Alexander Novak, comes as Saudi Arabia has said in recent weeks it wanted non-Opec producers to cooperate with the Organisation of the Petroleum Exporting Countries in future because the group would not cut output unilaterally and lose market share as a result.

At the group’s last meeting in November, Opec kingpin Saudi Arabia persuaded fellow members to keep production unchanged. The decision pushed oil prices below $50 per barrel.