By Benjamin Harvey, Bloomberg News

ISTANBUL
energiesNet.com 04 19 2022

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman gave a “positive assessment” to their cooperation on the OPEC+ producers group to stabilize the world oil market, the Kremlin said in statement.

Saturday’s phone conversation, the leaders’ second since Russia’s Feb. 24 invasion of Ukraine, came at the initiative of Saudi Arabia, the Kremlin said. 

The two also discussed the crises in Ukraine and Yemen, the Kremlin said, without providing details. Saudi Arabia said in a brief statement that the Crown Prince “received a phone call” from Putin but didn’t mention OPEC+ or energy cooperation specifically. 

“They discussed bilateral relations that bring the two countries together and ways to enhance them in various fields,” according to the Saudi readout. 

Bin Salman also “affirmed the Kingdom’s support for efforts that lead to a political solution to the crisis in Ukraine and achieve security and stability.” 

Saudi Arabia and other major Persian Gulf oil producers have so far resisted U.S. calls to increase output as prices have surged amid the crisis in Ukraine and concerns about possible sanctions on Russian exports. 

Putin’s last publicly announced conversation with the Saudi Crown Prince was on March 3, according to the Kremlin.

Bin Salman on Friday spoke with Chinese President Xi Jinping and also discussed Ukraine, according to Chinese state television, which said Beijing is seeking “high-level” cooperation with Saudi Arabia in energy, trade and high technology. 

bloombeerg.com 04 16 2022