Oct 13, 2020
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Putin discussed the energy market with the Crown Prince of Saudi Arabia

Russian President Vladimir Putin held a telephone conversation with the Crown Prince of Saudi Arabia Mohammad bin Salman Al Saud, the parties discussed the situation in the world energy markets, the Kremlin press service reported. The conversation took place at the initiative of the Saudi side.

Putin and Al Saud positively assessed the level of bilateral relations, and also noted the importance of joint work in the OPEC + format.

The head of the RF Ministry of Energy, Alexander Novak, said earlier that Russia intends to do everything possible to prevent a collapse in the energy market and in the global world economy. The minister also noted that the restoration of the energy industry in the world will not be quick, reaching pre-crisis indicators will take a long time.

Analysts believe that the global oil market is facing a collapse in demand again, as the demand for raw materials falls against the backdrop of quarantine restrictions, and stocks in storage facilities continue to grow.

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