Saudi Arabia’s Crown Prince discusses global energy markets with Putin

Saudi Arabia’s Crown Prince Mohammed bin Salman and Russian President Vladimir Putin discussed the current situation in the energy markets during a telephone call, according to an official statement on Tuesday.

“During the call, they reviewed the conditions of the global oil markets and the efforts made to achieve stability and maintaining balance to support the growth of the global economy. Both sides agreed on the importance of all oil-producing countries continuing to cooperate and abide by the OPEC+ agreement to achieve these goals for the benefit of both producers and consumers,” according to a statement on the call published by the Saudi Press Agency.

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Meanwhile, Saudi Aramco CEO Amin Nasse rsaid oil demand is set to recover to pre-coronavirus levels by 2022, once a vaccine is developed by the end of next year.

“The worst is definitely behind us,” he said at the Energy Intelligence Forum. “We are seeing a recovery.”