Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman will discuss cooperation within the OPEC-non-OPEC format during their meeting on the sidelines of the G20 summit in Argentina, a source in one of the delegations told Sputnik on Friday.
BEUNOS AIRES (Pakistan Point News / Sputnik - 30th November, 2018) Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman will discuss cooperation within the OPEC-non-OPEC format during their meeting on the sidelines of the G20 summit in Argentina, a source in one of the delegations told Sputnik on Friday.
Putin is expected to hold talks with the Saudi crown prince on Saturday. Kremlin aide Yury Ushakov earlier said that the two politicians will discuss developments in Yemen and Syria, and, most likely, the situation in the global oil market.
"Of course, [the sides] plan to discuss work within the OPEC-non-OPEC format. Syria issues will be also on agenda," the source said.
Earlier in the week, Putin said that all OPEC-non-OPEC agreements had been entirely fulfilled, giving much credit to Saudi Arabia and, personally, the crown prince for that. Ushakov similarly noted that Russian-Saudi effective work within the format had made a decisive contribution to stabilization of the global oil market.
In 2016, the Organization of the Petroleum Exporting Countries (OPEC) and several other major oil producers agreed to cut output by a total of 1.8 million barrels per day in an effort to stabilize global oil prices. The agreement, which came into effect in 2017, has been extended twice since then and will remain in force until the end of 2018.
