Putin Set to Discuss OPEC+ Interaction in Middle East Visit

Putin is set to discuss interaction between Russia and Saudi in the energy sector on his upcoming Middle East trip this week according to Russian Presidential Aide Yury Ushakov.

• Russian President Vladimir Putin will travel to the United Arab Emirates and Saudi Arabia on Wednesday, according to Yuri Ushakov, a Kremlin adviser on foreign affairs, cited by Bloomberg.
• "We expect to substantively discuss cooperation in the energy field, including interaction within OPEC+.” Ushakov said.
• The Russian delegation will include oil industry representatives. In particular, according to Ushakov, the participation of Lukoil CEO Vagit Alekperov is expected Tass reports.
• Putin will visit the UAE and Saudi Arabia for the first time since 2019.
• The meet comes following a delayed OPEC+ meet that appeared to show a lack of alignment between Saudi and Russia.
• Bloomberg reported in an interview with Saudi Prince Abdulaziz that he would have preferred to see a reduction in output at last week’s OPEC+ meeting, but couldn’t convince his Russian counterpart. They are instead committed to an export cut.
• “We did try,” Prince Abdulaziz said. “We also know it’s extremely tough for Russia to cut production in the winter.”