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Saudi Prince and Putin Urge OPEC+ Compliance as Oil Prices Sag

  • Prince Mohammed spoke to Russian leader about oil-supply cuts
  • It’s getting harder for nations to stick to curbs, says Nomura
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WATCH: Tarek Fadlallah, chief executive officer of the Middle East unit of Nomura Asset Management, talks about the OPEC+ alliance's oil-supply cuts.Daybreak: Middle East." (Source: Bloomberg)
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Saudi Arabia’s de facto leader, Crown Prince Mohammed Bin Salman, and Russian President Vladimir Putin urged other OPEC+ oil producers to stick with agreed production cuts, as energy prices come under renewed pressure from an acceleration in coronavirus cases.

The two spoke on Tuesday, reviewing efforts to balance supply and demand in the oil market and boost the global economy, the official Saudi Press Agency said. They “agreed on the importance of all oil-producing countries to continue cooperating and abiding by the OPEC+ agreement to achieve these goals for the benefit of both producers and consumers,” according to SPA.