Russia and Saudi Arabia discuss continued cooperation with OPEC+

Bloomberg News July 22, 2022

(Bloomberg) — Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call on Thursday, according to a statement from the Kremlin.

“It was emphasized that a further coordination within OPEC+ is important,” according to the statement. “It was noted with satisfaction that member states are consistently meeting their obligations to support the necessary balance and stability in the global energy market.” 

The phone call between Russia’s president and the de-facto Saudi leader comes less than two weeks before the Organization of Petroleum Exporting Countries and its allies meet to discuss production strategy. Those talks could determine whether the group delivers additional oil, as requested by US President Joe Biden earlier this month in a visit to the Middle Eastern kingdom. 

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