Saudi Arabia’s Crown Prince, Russia’s Putin discuss OPEC+, Ukraine in call

Saudi Arabia’s Crown Prince, Russia’s Putin discuss OPEC+, Ukraine in call

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman “gave a positive assessment” of joint work in the OPEC+ format during a phone call, the Kremlin said in a statement on Saturday.

They also discussed the situation in Ukraine and Yemen, the Kremlin said.

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The Crown Prince also reaffirmed the Kingdom’s support in finding a political solution to the Russia-Ukraine crisis, according to an official Saudi Press Agency report on Saturday.

OPEC on April 12 cut its forecast for growth in world oil demand in 2022 citing the impact of Russia’s invasion of Ukraine, rising inflation as crude prices soar and the resurgence of the omicron coronavirus variant in China.

In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast.

Russia’s invasion of Ukraine in February sent oil prices soaring above $139 a barrel, the highest since 2008, worsening inflationary pressures.

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