Putin and bin Salman discuss oil prices: Maintain current price

(Patria) - Russian President Vladimir Putin spoke by phone on Monday with Saudi Crown Prince Mohammed Bin Salman to discuss cooperation within the group of oil-producing countries OPEC+, with the aim of maintaining oil price stability, the Kremlin said in a statement.

Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, are scheduled to hold a virtual meeting on Wednesday.

Two OPEC+ delegates told Reuters that the meeting would likely recommend maintaining the current oil production policy.

Russian oil exports have so far shown resilience to Western sanctions imposed after Moscow sent troops into Ukraine on February 24, as well as to the price caps on Russian oil introduced by Western countries in December.