One step to the world: Saudi Arabia and Russia agree to cut oil production

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Saudi Arabia and the Russian Federation have always agreed to reduce oil production.

oil production
Oil production. Stock Photo – delo.ua

This is reported by the NPF, referring to Reuters

Today, April 9, Saudi Arabia and the Russian Federation held talks on the issue of reducing oil production. We know that due to the coronavirus pandemic, negotiations took place in videoconference mode.

According to the source of the Reuters news agency from the Russian delegation, the Russian Federation and OPEC + countries were able to agree on this time. The parties agreed to significantly reduce oil production. We know that the reduction in the parties’ oil production can reach 20 million barrels per day.

It should be noted that the OPEC + country side also confirmed this information.

Remember that this is not the first round of negotiations between the Russian Federation and OPEC + countries. After the parties’ unsuccessful attempts to agree on a reduction in oil production, world gold prices have dropped significantly.

The fall in oil prices and, consequently, the collapse of the ruble, severely damaged the Russian economy.

Earlier, we reported that a conflict was developing between Chechnya and Russia.

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