Putin discussed with the Crown Prince of Saudi Arabia the reduction of oil production
Russian leader Vladimir Putin held a telephone conversation with Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud, in which he discussed the reduction in oil production. This was reported by the press service of the Kremlin.
“It was noted that the agreements reached on reducing oil production … allow us to ensure the stability of the global energy market,” the report says.
The parties also discussed the interaction between Russia and Saudi Arabia as part of the OPEC+ deal.
In addition, the Crown Prince expressed gratitude to the Russian President for supporting Saudi Arabia’s appeal to join the BRICS (Brazil, Russia, India, China, South Africa).
Before that, it became known that Saudi Arabia would extend the voluntary reduction in oil production for another 3 months – until the end of December 2023. This was reported by the Saudi Press Agency, citing an official source in the Kingdom’s Ministry of Energy.
Analyst Gary Ross predicted that by the end of the year oil prices could rise to $90-100 amid a recovery in demand in China.