ENERGY

Putin credits Saudi Crown Prince for OPEC’s pledge on oil output

President Putin credits Saudi Crown Prince for OPEC’s pledge to production. (File photo: Reuters)

Russian President Vladimir Putin confirmed on Wednesday that Russia and OPEC have pledged to 100% production commitments, adding that this decision is due to the Saudi Crown Prince Mohammed Bin Salman.

Speaking at a financial forum in Moscow, Putin pointed out that Russia is satisfied with the oil price of $60 per barrel.

He said: “We are in contact with OPEC, and will continue to cooperate with them if necessary.”

Putin added that the minimum level of profitability for oil is between $35 and $45 per barrel.

Earlier on Wednesday, the Kremlin said a meeting with Saudi Crown Prince Mohammed bin Salman is scheduled in Russian President Vladimir Putin’s agenda at the G20 summit in Argentina.

SHOW MORE
Last Update: Wednesday, 28 November 2018 KSA 17:32 - GMT 14:32
Top
BREAKING NEWS

Send to a friend

Close
Putin credits Saudi Crown Prince for OPEC’s pledge on oil output
Friend's name:
Friend's Email:
Sender's name:
Sender's Email:
Captcha Code
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed