Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected

Russia, KSA to strengthen bilateral relations within OPEC+: Kremlin

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Jan 2023 18:34
3 Min Read

The Russian President and his Saudi Arabian counterpart discuss cooperation within OPEC+ in order to maintain global oil market stability.

  • x
  • An OPEC flag is seen on the day of OPEC+ meeting in Vienna in Vienna, Austria October 5, 2022 (Reuters).
    An OPEC flag is seen on the day of the OPEC+ meeting in Vienna, Austria, on October 5, 2022. (Reuters)

The Kremlin highlighted on Monday that Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin discussed, via a phone call, the importance of cooperation within OPEC+ to safeguard the stability of the global oil market.

According to the statement, "the issues of further development of bilateral cooperation in the political, trade, economic and energy fields, as well as cooperation within the framework of OPEC+ to ensure the stability of the world oil market were discussed."

Russia oil price cap political, OPEC decision economic

Saudi Energy Minister Prince Abdulaziz bin Salman considered in December 2022 that the impact of European sanctions and the G7 imposed price cap on Russian oil "did not bring clear results yet."

"What is happening now in terms of sanctions and price caps imposed and all of it really did not bring clear results, including measures implemented on Dec. 5, we see a state of uncertainty in implementation," the Saudi Minister told a forum held following the country's 2023 budget announcements in Riyadh.

Related News

Russian drones in airspace were 'duds': Polish FM

Russia boasts military might with Zircon hypersonic missiles, bombers

He indicated that Moscow's response to these tools needed to be taken into consideration when looking at the state of play in global markets.

Referring to the price cap imposed on Russian crude oil, Prince Abdulaziz pointed out that "these tools were created for political purposes, and it is not clear yet whether they can achieve these political purposes."

The Saudi diplomat said other factors affecting the market going into 2023 include China's Covid-19 policies, adding that the impact on China's economy from easing Covid-19 restrictions still "needs time".

The Minister further explained that "central banks are still preoccupied with managing inflation, no matter the cost of these measures and their possible negative impact on global economic growth."

Prince Abdulaziz considered that when taken into consideration, the OPEC+ decision to cut production by two million barrels per day was proven to be correct.

On December 4, OPEC+ decided to maintain its oil production targets in line with the October accord when the group reduced output by two million barrels of oil per day.

Prince Abdulaziz affirmed that OPEC+ would continue to focus on market stability in the coming year, pointing out that every member of the alliance takes part in decision-making.

Read more: Exclusive: KSA tried to appease Russia out of fear: Al-Bukhaiti

  • Russia
  • global oil market
  • OPEC+
  • Price cap
  • Saudi Arabia

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS