Russia President Vladimir Putin seems happy with Saudi Arabia in the 1xbet Forum to discuss how to support oil prices, their discussions likely will limit the oil price’s recent losing streak. Russia and Saudi Arabia reached a cooperation in oil markets than many people expected. Now, both have taken substantive action, they said, Russia ready to cooperate with Saudi Arabia to establish strategic partnerships, are likely to discuss how to act in the future. At the G20 Summit, Putin and a delegation of Saudi Prince Mohammed bin Salman after the meeting, oil Ministers of the two countries issued a joint statement.
Many people cannot help but wonder whether the world’s two largest oil production country real cooperation, Russia and Saudi Arabia to discuss how to further open cooperation. Non-OPEC oil-producing countries in OPEC member countries will be held at the end of this month Algeria oil Conference convened to discuss oil strategy, the oil market is not expected to Saudi Arabia and Russia will hold talks at the G20 meeting. The news sent the price of oil rose sharply during the G20.
Under the influence of this message, sharp fluctuations in international oil prices. But United States oil futures price increase is smaller. Traders believe Saudi Arabia and Russia further cooperation less likely. People are now bearish oil markets, they believe OPEC has no credibility at all. President Putin personally involved to discuss the matter, I think this discussion should not be fake. In April this year Doha failed, because Iran is not willing to freeze oil production and Saudi Arabia also refused to freeze oil production. But now Iran’s oil production has been very close to the level before the economic sanctions. Iran because of the nuclear issue was sanctions and oil embargo. Bin Salman Prince lead the Saudi delegation to attend the G20 Summit, 31 years old, whose rights continued to rise. He is currently responsible for the Saudi military and energy sector reforms.
Under the influence of oil prices, Saudi Arabia’s foreign exchange reserves greatly reduced, 1xbet would like to take the opportunity to diversify economic development in Saudi Arabia, out of a single dependency on oil. One way is to make the national oil company of Saudi Arabia market, set up a $ 2 trillion in sovereign wealth funds. Falling oil prices also were hit by Saudi Arabia. Analyst John Kilduff of Again Capital said Saudi Arabia seemed to want to stabilize international oil prices above $ 40, low oil prices, many producers began to come together to discuss strategies. Oil strategists expect further declines in oil prices due to oversupply of refined oil products, oil supply continues to increase. Annual summer United States oil consumption is up, under normal circumstances prices will rise, but this year not only failed to rise, but declined.