Saudis Say Russian Cooperation Breathed Life Back Into OPEC
- Success of collaboration between nations is clear: Al-Falih
- King of Saudi Arabia made first visit to Russia on Thursday
Putin Welcomes Saudi King in Historic Moscow Visit
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Cooperation between Saudi Arabia and Russia has “breathed life back into OPEC” and made the kingdom’s oil minister more optimistic about the outlook for the market than he has been for several years.
The success of the collaboration between the world’s two largest oil exporters is clear, said Saudi Minister of Energy and Industry Khalid Al-Falih. The relationship, which involves coordinated production cuts to eliminate an oversupply and joint energy investments, brings both short- and long-term gains, he said after a meeting in Moscow with his Russian counterpart Alexander Novak.