Putin, Saudi Prince Pledge Coordination Ahead of OPEC+ Meeting
- Leaders discussed oil market situation in phone call: Kremlin
- Next OPEC+ meeting is scheduled for June 9-10, by video link
Vladimir Putin meets with Crown Prince Mohammed bin Salman in Riyadh, Saudi Arabia, on Oct. 14, 2019.
Photographer: Alexey Nikolsky/AFP via Getty Images
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Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group.
The talks between President Vladimir Putin and Saudi Crown Prince Mohammed Bin Salman come as Russia was said to be determined to start easing oil-output cuts in July, as agreed by OPEC+ in April. The Organization of Petroleum Exporting Countries and its allies will hold online meetings on June 9-10 to discuss if they should extend their record production cuts, or start tapering them.