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Report of the Saudi Gazette
MOSCOW – Russian President Vladimir Putin on Wednesday hailed the role played by Crown Prince Muhammad Bin Salman, Deputy Prime Minister and Defense Minister, in the successful conclusion of agreements to reduce oil production.
The Russian president was answering a question about the agreements to cut oil production during his participation in the forum on investment in Russia, the Saudi press agency quoted a Kremlin statement as saying.
This was for the first time a cooperation between OPEC countries and producing countries outside the organization and the full implementation of all agreements between them.
Putin said that current oil prices around $ 60 a barrel are "absolutely acceptable" for his country, adding that Moscow was ready if needed to work with OPEC on stabilizing the market after a major drop.
He highlighted the success of the OPEC + agreement on production cuts, praising the Saudi crown. "This is indeed an achievement of Saudi Arabia and the Crown Prince, he was the initiator of this work that has resulted in positive results," he said.
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