Kremlin: Russia appreciates cooperation with Saudi Arabia in OPEC+

Kremlin spokesman Dmitry Peskov said that Russia highly appreciated cooperation with Saudi Arabia within the framework of OPEC+

He added that both Saudi Arabia and Russia have strong economic and diplomatic relations, and the two countries are cooperating within OPEC Plus to support the stability and balance of oil markets, according to the Al-Arabiya website.

OPEC+ is an alliance that includes members of the Organization of Petroleum Exporting Countries (OPEC) and other oil countries such as Russia, whose production decreased by one million barrels per day, in the wake of Western sanctions against Moscow after it launched a military attack on Ukraine on February 24.

OPEC Plus had agreed to increase oil production by 648,000 barrels per day in July, at the same pace in August, compared to a previous increase of 432,000 barrels.

US President Joe Biden is on an upcoming visit to Saudi Arabia on July 15-16, where he stressed that he seeks to strengthen the strategic partnership with the Kingdom.

Russian Deputy Prime Minister Alexander Novak had said last June, following a meeting with Saudi Energy Minister Prince Abdulaziz bin Salman, that Russia may continue to cooperate within the framework of the OPEC + oil production agreement after 2022.