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Putin, MBS Discuss Implementation Of OPEC+ Output Deal

OPEC

Russian outlet Tass, citing the Kremlin, states that Russian President Vladimir Putin and Saudi Crown Prince Mohamed Bin Salman discussed coordination surrounding the implementation of the OPEC+ oil output deal.

  • Comes as tensions spike in the Middle East as Saudi-led coalition intercept a Houthi drone in war-torn Yemen, a development that sent oil prices soaring.
  • Under the current OPEC+ deal, production that was cut during the height of the pandemic is being increased gradually, with full Russian production due to resume in April 2022 when the agreement expires.

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