Saudi Crown Prince Mohammed bin Salman and Putin clasped each other's hands and smiled widely as they greeted each other Friday. The greeting quickly gained traction on Twitter....
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Saudi Arabia's energy minister Khalid Al-Falih (click here) will meet with his Russian counterpart Alexander Novak during the summit to discuss an oil output in 2019, the Russian news agency RIA reported. Novak also said that Russia's 2019 oil output is expected to be at the same level as this year but could be adjusted, depending on a deal between OPEC and non-OPEC members. Producer group OPEC and its allies are meeting in Vienna next week to discuss oil production.
Saudi Arabia pushes for “quiet cut.” A few weeks ago, rumors floated of a potential aggressive production cut at the upcoming OPEC+ meeting, perhaps as large as 1.4 million barrels per day. However, that now looks unlikely, as President Trump has simultaneously protected Saudi Arabia from international outrage over the Khashoggi murder, at the same time that he has pressured them into keeping oil prices low. Russia is also not keen on a large production cut. That leaves Saudi Arabia looking for a “quiet cut,” which would mean taking production back down to previously agreed upon production limit – around 10 mb/d, down from the current 11 mb/d.
They also share an interest in a space (click here) and nuclear (click here) programs. The Crowned Prince has promised to bring money to Russia. They are probably the only two countries that actually have admiration for the other.
They also share an interest in a space (click here) and nuclear (click here) programs. The Crowned Prince has promised to bring money to Russia. They are probably the only two countries that actually have admiration for the other.
