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Russian President Vladimir Putin is meeting with Saudi Arabia’s crown prince Muhammad bin Salman (MBS) in Moscow today on the sidelines of World Cup Football that begins today in Moscow where the first game will be played between Russia and Saudi Arabia.
Both Saudi Arabia’s energy minister Khalid al-Falih and Russian energy minister Alexander Novak will also be present at the meeting. The meeting is of particular importance as the two countries are the biggest oil producer and exporters in the world and jointly played a significant role in uniting the OPEC and some non-OPEC countries in reaching the production cut agreement to reduce global oil supplies by 1.76 million barrels per day.
The meeting is also vital in a sense that the two countries have recently signaled that they might ease the production agreement ceiling by a million barrels per day and the meeting is taking place just a week before the summer OPEC meeting next week.
