Putin discussed with the crown prince of Saudi Arabia work within the framework of OPEC +
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Russian President Vladimir Putin had a telephone conversation with Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud, the Kremlin press service reported. The parties discussed the work within the framework of OPEC + and stressed the importance of the agreements reached under the oil agreement.
“The topic of ensuring stability in the world energy market was thoroughly considered. Both sides highly appreciated the level of cooperation within the framework of OPEC Plus, which makes it possible to take timely and effective steps to maintain a balance between supply and demand for oil.
In addition, Putin and the Crown Prince discussed building up trade and economic ties between the countries, as well as the prospects for implementing joint projects in a number of areas, including in the energy sector.
On June 4, the participants in the OPEC+ agreement, following the 35th meeting of OPEC and countries outside the organization, agreed to reduce the overall level of oil production from 2024 to 40.46 million barrels. per day. According to the agreement, Russia must adjust oil production from next year to 9.828 million barrels per day.
Later, Russian Deputy Prime Minister Alexander Novak said that Russia had extended a voluntary cut in oil production by 500,000 barrels. per day until the end of next year.
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