OPEC: countries want to expand coordination on production

According to a statement from the Kremlin, last Wednesday (27), the President of Russia, Vladimir Putin, and the crown prince of Saudi Arabia, Mohammed bin Salman, said they agree to carry out a "close coordination" of restrictions on oil production. 

In a phone call, both also mentioned the importance of joint efforts to comply with the agreement reached by OPEC+ in April for production cuts in May and June. "Closer cooperation has been agreed on this topic via energy ministries," the Kremlin said. 

Opec+ is expected to hold a video conference in the second week of June to discuss new policies.

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