07.09.2016 - Talks by Russia's Putin and Saudi prince could be big deal for oil market
Russian President Vladimir Putin's seemingly cozy talks with Saudi Arabia could put a floor under oil prices, possibly limiting what could have been a sharp drop later this month. In a surprise move over the long Labor Day weekend, Russia and Saudi Arabia agreed to cooperate in world oil markets. There was no immediate deal to act but they say they are moving toward a strategic energy partnership and could take action in the future. The joint statement was signed by both countries' oil ministers on the sidelines of the G-20 summit in China, after a meeting between Putin and Saudi Deputy Crown Prince Mohammed bin Salman...............................................Full Article: Source
Print