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Saudi Arabia’s Crown Prince Mohammed bin Salman discussed in a phone call with Russian President Vladimir Putin cooperation within the OPEC+ group countries to maintain the stability of the oil market. The Crown Prince and Putin also discussed further development of bilateral cooperation in the political, trade, economic and energy fields. Although the current oil prices in the market are stable, there remains a factor of uncertainty when it comes to how supply will be impacted with the recent Western sanctions on Russia’s oil industry imposed over Moscow’s war on Ukraine, as well as the price caps introduced on Russian products in December.

Saudi Crown Prince and Putin discuss OPEC+ cooperation for oil market stability

Saudi Arabia’s Crown Prince Mohammed bin Salman discussed in a phone call with Russian President Vladimir Putin cooperation within the OPEC+ group countries to maintain the stability of the oil market. The Crown Prince and Putin also discussed further development of bilateral cooperation in the political, trade, economic and energy fields. Although the current oil prices in the market are stable, there remains a factor of uncertainty when it comes to how supply will be impacted with the recent Western sanctions on Russia’s oil industry imposed over Moscow’s war on Ukraine, as well as the price caps introduced on Russian products in December.

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