Putin hosts Saudi prince in Moscow

sunnewsonline.com

May 30, 2017 11:11 AM

Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman will hold talks with Russian President Vladimir Putin in Moscow on issues of mutual interest, Saudi state news agency SPA reported on Tuesday.

Both Putin and bin Salman have been instrumental behind a successful global deal which saw oil production curtailed by 1.8 million barrels per day as part of efforts to prop up prices and reduce bloated inventories.

Last time they met in China in September on the sideline of the G20 summit.

Al Arabiya TV said they would discuss the Syrian conflict, while four cooperation agreements are expected to be inked between Saudi Arabia and Russia.

Earlier on Tuesday, Russian Energy Minister Alexander Novak met his Saudi counterpart Khalid al-Falih and discussed situation on global oil markets.

The meetings take place after last week the Organization of the Petroleum Exporting Countries and other large global oil producers led by Russia agreed to extend oil output cuts by another 9 months.

The markets were disappointed that the producers have to undertook more drastic measures to bring back the balance between oil supply and demand. (Reuters)

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