Putin discusses oil with Trump and Saudi King | Eurasia Diary - ednews.net

28 May, Thursday

Putin discusses oil with Trump and Saudi King

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In the course of the conversation with U.S. President Donald Trump and Saudi King Salman bin Abdulaziz Al Saud, Russian President Vladimir Putin confirmed the determination to coordinate actions for stabilizing the oil market, EDNews.net reports citing Vestnik Kavkaza.

"Today, Russian President Vladimir Putin had a phone conversation with US President Donald Trump and Saudi Arabia King Salman bin Abdulaziz Al Saud," the Kremlin press service said in a statement.

The sides confirmed "determination to coordinate actions to stabilize the situation in the global oil trade and minimize the negative impact of volatile oil price quotations to the global economy," TASS reported.

According to the statement, the sides discussed the situation on oil markets, including with regard to the emergency OPEC+ ministerial meeting and the upcoming video conference of G20 energy ministers.

The plan on oil production cuts within the OPEC+ framework envisages that Russia and Saudi Arabia will reduce their oil production by 2.5 million barrels per day, from the current 11 million barrels to 8.5 million barrels per day in May-June, according to a draft agreement obtained by TASS.

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