Dmitry Peskov, the president's spokesperson, said that the negotiations between the Russian and Saudi leadership to stabilize the oil market had proved effective, so this issue remains among the topical issues on the agenda.
"Undoubtedly, the situation at the oil markets is traditionally on the agenda of conversations between the President and the Crown Prince and the King," Peskov said. "The effectiveness of interaction between Russia and Saudi Arabia in terms of efforts to stabilize the oil markets has repeatedly shown itself. This topic remains on the agenda of Russian-Saudi contacts," he stressed. Thus, Peskov commented on the remark of journalists that the wording "a detailed exchange of views on the current situation in the world energy market", which the Kremlin gave following a telephone conversation between Vladimir Putin and the Crown Prince of Saudi Arabia Mohammed Bin Salman Al Saud may indicate the difficulties in achieving consensus by the parties.
At the same time, speaking about the need for a separate meeting between the President and the Energy Minister Alexander Novak after the last telephone conversation between the leadership of the Russian Federation and Saudi Arabia, Peskov stressed that "Putin and Novak are in constant working contact, as well as with other ministers".
Earlier, on October 13 Putin and the Crown Prince discussed the issues of bilateral cooperation, including joint work in the format of OPEC+. The parties stressed the importance of continuing joint work, including in the format of OPEC+.
The agreement of the OPEC+ countries entered into force in the updated format on May 1, which supposed reduction of oil production by 9.7 million b/d by the alliance countries during May-July. Russia and Saudi Arabia, according to the agreement, reduced oil production by equal shares - 2.5 million b/d from the base level of 11 million b/d. The agreements will be valid for two years, but from August to December 2020, 7.7 million b/d already falls under the reduction within the alliance, and from January 2021 to the end of April 2022 - 5.8 million b/d. The parameters of the deal may be revised in December 2021.
GSV "Russia - Islamic World"
Photo: Valery Sharifulin / TASS
Based on materials from TASS