Photo credit: TASS/Mikhail Metzel
Presidents Vladimir Putin, Donald trump and the king of Saudi Arabia Salman bin Abdul-Aziz al Saud held a tripartite talks.
the Heads of state endorsed the new deal for OPEC oil+ and noted the importance of this agreement. In addition, they discussed strategic security issues and agreed to continue contacts.
meanwhile, Putin and trump had a private conversation and exchanged views on the situation in the oil market. Later, the President of the United States stated that the agreement satisfied all parties, reports “Komsomolskaya Pravda”.
“I would like to thank and congratulate Russian President Vladimir Putin and Saudi king Salman” – wrote the head of the white house on Twitter. According to him, the deal “will save hundreds of thousands of jobs in the energy sector of the United States”.
OPEC Countries agree on reducing oil production.
OPEC+ agreed a new deal on April 10. The first two months of the reduction of oil production will amount to ten million barrels per day. In the second half of the decrease is a planned reduction in eight million in 2021 – six.
the deal involves 23 States and the OPEC countries, States not members of the organization. At the same time Iran, Libya and Venezuela are exempt from the cuts because of political problems.
In March, Russia and Kazakhstan refused from the contract of OPEC+ in terms of reduction of production volumes. Because of this, in the oil industry there was a crisis.
as a result, the situation has led to a sharp decline in raw material prices and the consequent depreciation of the ruble against the dollar and the Euro.
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