ENERGY

Russia’s Putin, Saudi King ready to continue energy cooperation

The Kremlin also said the two leaders praised bilateral cooperation between Russia and Saudi Arabia. (File photo)

Russia’s President Vladimir Putin and Saudi King Salman, in a telephone conversation, voiced their support for continued coordination on the global energy markets, the Kremlin said on Tuesday.

The Kremlin also said the two leaders praised bilateral cooperation between Russia and Saudi Arabia.

“On both sides, a high assessment was given to the high level of cooperation achieved, including in the trade, economic and investment spheres. Mutual attitude for further strengthening of multifaceted Russia-Saudi Arabia ties has been expressed,” the Kremlin said in a statement.

“The schedule of upcoming contacts at various levels was also discussed,” the Kremlin added.

Russia and other leading oil producers and the Organization for the Petroleum Exporting Countries (OPEC) agreed to cut their oil output by a combined 1.2 million barrels per day starting from January in order to balance global oil markets and support prices.

The next ministerial OPEC and non-OPEC meeting is due to be held in Vienna in mid-April.

- With Reuters

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Last Update: Wednesday, 20 February 2019 KSA 07:39 - GMT 04:39
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