The national flags of Russia and Saudi Arabia are seen during a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producing countries in Vienna, Austria, May 25, 2017. (Reuters)

Oil

Ahead of OPEC+ meet, Kremlin says ties with Saudi Arabia are constructive, trusting

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Reuters, Moscow

Published: 01 June ,2023: 04:19 PM GST Updated: 01 June ,2023: 04:26 PM GST

The Kremlin said on Thursday that relations with Saudi Arabia were constructive and based on mutual understanding and respect ahead of an OPEC+ meeting.

Asked about relations with Saudi Arabia ahead of the meeting, Kremlin spokesman Dmitry Peskov said they were “constructive, based on mutual understanding, mutual respect, mutual trust, and very work-like.”

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OPEC+, which groups the Organization of the Petroleum Exporting Countries with Russia and other allies, surprised the market on April 2 with further output cuts that pushed up the price of oil.

Russia is the world’s second largest oil exporter after Saudi Arabia.

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