Putin discusses OPEC+ deal in call with Saudi Crown Prince, Kremlin says

Russian President Vladimir Putin discussed the OPEC+ deal to cap oil production with Saudi Arabia’s Crown Prince Mohammed bin Salman, in a telephone call on Friday, the Kremlin said.

The two expressed satisfaction with the level of cooperation between the two countries to bring stability to the global oil market, the Kremlin said in a readout of the call.

Putin and the Crown Prince also forged close business relations.

“The conversation proceeded in a friendly manner, was constructive and informative. With this in mind, it was agreed to build up contacts in specific areas of cooperation,” the Kremlin said.

The Organization of the Petroleum Exporting Countries (OPEC) in 2016 forged an alliance known as OPEC+ with other big producers led by Russia, to closely interact on the oil market.

Earlier this month, OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day in a surprise move.