"Putin and Saudi Crown Prince discuss strained oil partnership"

1 min read
Source: OilPrice.com
"Putin and Saudi Crown Prince discuss strained oil partnership"
Photo: OilPrice.com
TL;DR Summary

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed ensuring stability in the energy market and praised the cooperation within the OPEC+ deal. The talks come after the OPEC+ meeting, where Saudi Arabia expressed frustration with the lack of transparency about Russia's current oil production. The OPEC+ producers decided to keep the current cuts until the end of 2024, while Saudi Arabia said it would voluntarily reduce its production by 1 million bpd in July. Russia has said it would reduce its oil production by 500,000 bpd from March, but recent export data has not reflected any cuts.

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