Russia and Saudi Arabia are firmly committed to implementing the OPEC+ deal to reduce oil production and are confident that all members of the Association will fulfill their obligations.
This is stated in a statement by the Russian Ministry of Energy following telephone talks between the Energy Ministers of Saudi Arabia and Russia, Prince Abdulaziz bin Salman al Saud and Alexander Novak.
"Both countries are firmly committed to implementing the agreed target cuts, will continue to closely monitor the oil market and, if necessary, will be ready to take the necessary measures together with OPEC + and other producers. Russia and Saudi Arabia are also confident that their OPEC + partners and other producers will fulfill their obligations, " the report says.
Last week, OPEC+ countries with Russia's participation agreed to collectively reduce production by 9.7 million barrels per day in May-June to compensate for the drop in demand in the world due to the coronavirus pandemic.
GSV "Russia - Islamic World"
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