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Putin and MBS Praise OPEC+ Agreement

OIL

Russia’s Putin and Saudi Crown Prince Mohammed bin Salman talked about OPEC+ on the phone according to a Kremlin statement released late last night.

  • The two leaders “gave high praise to the level of cooperation within the OPEC+ that allows to make timely and effective steps to maintain the balance of oil supply and demand,”
  • Russia and Saudi Arabia’s leaders noted “the importance of reached agreements,” relating to the latest OPEC+ meeting.
  • Russia and Saudi relations had been questioned ahead of the OPEC+ meeting due to little sign Russia was adhering to 500,000 bpd voluntary cuts and its continued bid to muscle into Asian markets by offering discounted barrels – displacing those of Saudi.
Energy BulletsCommodities
Energy BulletsCommodities

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