OPEC+ is key to strengthening Russia and Saudi interests, Russia says

Collective action within oil producer group OPEC+ is in the interest of both Russia and Saudi Arabia, Russia's deputy prime minister Alexander Novak told Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman in Moscow on Wednesday, according to a Russian government statement. Saudi Arabia and Russia, the two top OPEC+ producers, have recently navigated tensions over oil output policy, with Riyadh pushing for accelerated supply increases and Moscow advocating a slower pace, according to sources with knowledge of OPEC+ talks. "The Deputy Prime Minister noted that collective action within OPEC+ is in the long-term national interests and contributes to strengthening the economies of both countries," the Russian statement said after Novak met the Saudi minister. Russia's comments, highlighting the benefits...