Putin calls King Salman after the oil falls … This is what they agreed upon

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On Monday, Russian President Vladimir Putin telephoned Saudi King Salman bin Abdulaziz.

The call comes after oil prices fell to their lowest level since July 30, after Saudi Arabia announced the largest monthly price cut for supplies to Asia in five months.

Brent crude recorded during Monday’s trading at $ 42.11 a barrel, down 55 cents, or 1.3 percent, by 06:42 GMT, while US West Texas Intermediate crude fell 64 cents, equivalent to 1.6 percent, to $ 39.13.

There is still a global glut of crude and fuel despite the production cuts of “OPEC” and its allies in what is known as OPEC +, and the efforts of governments to stimulate the global economy and demand for oil.

The Kremlin said in a statement, on Monday, that President Putin and King Salman expressed their satisfaction with how the agreement between OPEC and non-OPEC producers would be implemented to reduce oil production.

According to the statement, the two leaders said that the agreement generally contributed to stabilizing global energy markets and agreed to continue coordinated action.

The statement added that they also discussed the joint production of a possible Russian vaccine for COVID-19.







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