The Kremlin: Putin and Bin Salman discuss the energy market and stress the importance of efforts to achieve “OPEC +” agreements

Russian Kremlin press service reported that Russian President Vladimir Putin discussed in a phone conversation with Saudi Crown Prince Mohammed bin Salman Al Saud the energy market, as the two parties pointed to the importance of efforts made to achieve the “OPEC +” agreements.

The Kremlin said: “Views were exchanged on the situation in the global energy market.

The two sides pointed to the importance of the joint efforts that led in April to an agreement in the form of “OPEC +” to reduce oil production.

The Kremlin explained that the phone conversation between the two sides took place today, 27 May.

The Kremlin added: “And it was agreed to more close coordination on this issue between the ministries of energy.

A number of related bilateral cooperation topics were addressed in the context of the results of the Russian President’s visit to Riyadh in October 2019.

He congratulated the Russian President, Saudi Crown Prince Mohammed bin Salman Al Saud, on the occasion of Eid Al Fitr.

Member states agreed in the OPEC + deal, on April 12, to reduce oil production by 9.7 million barrels per day in May-June, by 7.7 million barrels in the second half of this year, and by another 5.8 million barrels, until the end of April 2022.

The cuts compared to October 2018 production come as a reference base for the reduction process, but Russia and Saudi Arabia took upon themselves 11 million barrels per day, compared to all there is a decrease of 23 percent, 18 percent and 14 percent, respectively.