Saudi Arabia, Russia Stress Expanding Relations
Gulf
Jeddah - Asharq Al-Awsat
Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, held telephone talks on Thursday with Russian President Vladimir Putin. The talks focused on bilateral relations between their countries and ways to bolster them in various fields. They tackled the latest regional and international developments and efforts exerted towards them to achieve security and stability. The Kremlin said the two officials stressed the level of friendly relations between their countries. They discussed cooperation with focus on expanding trade and economic relations for the mutual benefit of both parties. They also addressed the global oil market. "The current situation on the world oil market was considered in detail. The importance of further coordination within the framework of OPEC+ was emphasized," the Kremlin said. "It was noted with satisfaction that the countries participating in this format are consistently fulfilling their obligations in order to maintain the necessary balance and stability in the global energy market." On June 2, OPEC+, which brings together the Organization of the Petroleum Exporting Countries with other producers led by Russia, agreed a larger-than-expected rise in output. The group is set to meet on August 3. Saudi Foreign Minister Prince Faisal bin Farhan had stressed on Tuesday the Kingdom's commitment to the stability of energy markets. The Minister said Saudi Arabia is focused on maintaining the stability of oil markets through OPEC+, asserting that dialogue within the group is very active and responds to the requirements of the oil markets. "As of today, we don't see a lack of oil in the market. There is a lack of refining capacity, which is also an issue, so we need to invest more in refining capacity," he said during a visit to Tokyo.
from Asharq AL-awsat https://english.aawsat.com/home/article/3772556/saudi-arabia-russia-stress-expanding-relations
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