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Wednesday, September 13, 2023

OPEC+: Saudi CP Mohammad and Putin discuss oil cuts and UAE’s rolenote

Saudi Arabia and Russia announced on 5/9/2023 the extension of voluntary oil cuts until the end of the year, raising Brent oil prices above 90$ per barrel.

Saudi Crown Prince Mohammad Bin Salman (MBS) and Russian President Vladimir Putin held a telephone call on 6/9/2023, during which they conducted a joint evaluation of the decision.

Tactical Report sheds light on the details of MBS’ and Putin’s call, including:

- The two leaders’ views on recent oil cuts

- Coordination with two specific OPEC+ members

- Putin’s thoughts on UAE’s role in OPEC+

- MBS’ request to Putin concerning UAE’s role

The report also highlights the view of Saudi Minister of Energy Prince Abdulaziz Bin Salman on the future of Russian-Saudi cooperation under OPEC+.


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