Opec oil cut deal may be extended: Russia

Posted October 07, 2017

On Wednesday, Putin met OPEC officials and said a deal between OPEC and rival oil producers to reduce production could be extended to the end of 2018, a longer timeframe than others have suggested.

On his journey into central Moscow from Vnukovo airport late on Wednesday, King Salman's limousine passed billboards bearing his photograph and messages in Russian and Arabic welcoming him.

Saudi Arabia will allocate Russia $1 bln for joint energy projects, Russian Minister of Energy Alexander Novak said.

Russian Federation and Saudi Arabia will continue to work on stabilising world oil markets, King Salman told Putin on Thursday.

Putin did praise Trump as someone who will "never be anybody's hostage" but indicated that relations between Moscow and Washington, D.C., have been soured by domestic political fighting in the U.S.

Russian Energy Minister Alexander Novak said in an interview broadcast on October 2 that the planned $1-billion fund to invest in energy projects was part of efforts to strengthen cooperation in oil, gas, electricity, renewable energy and other projects. Last month, Turkey agreed to buy the S-400 defense system, which has further strained relations between Ankara and North Atlantic Treaty Organisation.

Salman in his reply called Russian Federation a "friendly nation" and said his country is committed to strengthen ties "in the interests of peace and security".

Las Vegas Gunman's Girlfriend Returns To US For Questioning
Law enforcement authorities are hoping to obtain some answers from Danley, who has been identified as Paddock's live-in companion. They lived together in Mr Paddock's property in Babbling Brook Court, a two-bedroom home worth $396,000 (£297,554).

President Vladimir Putin hailed the visit by the 81-year-old king as a "momentous" event, reported Russian state news agency RIA Novosti.

The success of the collaboration between the world's two largest oil exporters is clear, said Saudi Minister of Energy and Industry Khalid Al-Falih.

He also mentioned that Russian firms have been discussing possible future deals with energy giant Saudi Aramco, such as the provision of drilling services in Saudi Arabia and in crude trading. He also said he had accepted the king's invitation to visit Saudi Arabia.

The two countries also signed a deal to set up a $1 billion joint investment fund.

More sanctions were the road to nowhere, Putin told the same forum, saying around 40,000 North Korean citizens were now working in Russian Federation.

Saudi-U.S. ties were strained under the Obama administration over its backing of a nuclear agreement with Iran and its handling of the Syrian conflict.

King Salman even brought his own furniture along to the luxury hotels booked by the Saudi government for the visit.