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Putin Talks to Saudi Crown Prince Bin Salman "Discussion on Oil Market Stability"

Reuters and Sputnik reported that Russian President Vladimir Putin had a phone call with Saudi Arabia's powerful Crown Prince Mohammed bin Salman on the 30th (local time) and agreed to work together to stabilize the international oil market.

The Kremlin said in a statement that day President Putin and Crown Prince bin Salman had discussed cooperation within OPEC+ regarding ensuring stability in the international oil market.

In addition, "the issue of further development of cooperation between the two countries in the fields of politics, economy, trade and energy was addressed."

OPEC+ is a consultative body of Organization of Petroleum Exporting Countries (OPEC) member countries such as Saudi Arabia and major non-OPEC oil producing countries such as Russia and plans to hold an online meeting on the 1st of next month to discuss oil production policies.

Officials from multiple delegations said OPEC+ was likely to maintain its current production policy, Reuters reported. Russia is stepping up cooperation with Saudi Arabia and other oil-producing countries to weaken Western sanctions on its energy industry after the invasion of Ukraine in February last year.

It is strengthening cooperation with oil-producing countries, including Woody.

President Putin said in October of last year when Saudi Arabia had a conflict with the United States after its decision to cut oil production, "Crown Prince bin Salman must be respected.

He also said that he supports Saudi Arabia's accession to the BRICS (five emerging economies: BRICS Brazil, Russia, India, China and South Africa).

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