Riyadh: Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin on Monday discussed the implementation of the Organization of the Petroleum Exporting Countries (OPEC+) agreement for oil production, the Saudi press agency reported.
During a phone conversation, Saudi Arabia and Russia have agreed to continue working together to stabilize oil markets and support the growth of the global economy.
Kremlin stated Putin supported the continuation of close cooperation between Moscow and Riyadh to support the stability of the global energy market.
Members of the OPEC agreed with its allies outside the organization, led by Russia, to reduce production to ensure price stability and stockpile control. “In light of a strong increase in demand and modest growth in non-OPEC supplies, a rapid withdrawal of stocks is expected during the second half of the year. This prepares the way for OPEC + to start reducing the cuts,” the agency said.
Salman and Putin said they want to strengthen trade, and economic and investment cooperation.
The duo also discussed the combating of tackling the spread of COVID-19 and the possibility of using the Russian Sputnik V vaccine in the kingdom.
They also discussed a number of regional and international developments, including the situation in Syria and issues related to the Arabian Gulf.