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Russian President Vladimir Putin will go to the United Arab Emirates and Saudi Arabia this week, Russian information outlet Shot reported on Monday, citing Putin’s aide Yury Ushakov.
The reported go to comes after the OPEC+ group of oil producers, which incorporates all three international locations, agreed final Thursday to voluntary output cuts totalling 2.2 million barrels a day.
Markets reacted with scepticism to the deal due to doubts about whether or not the voluntary cuts could be totally applied. Oil costs fell two per cent final week after the announcement, and declined additional on Monday. The determine of two.2 million bpd included an extension of present Saudi and Russian voluntary cuts of 1.3 million bpd.
Shot quoted Ushakov as saying Putin would go first to UAE after which to Saudi Arabia, the place negotiations would happen primarily with Crown Prince Mohammed bin Salman.
“I hope that these will probably be very helpful negotiations, which we take into account extraordinarily necessary,” Ushakov stated. Putin has not often travelled overseas lately, and largely to states of the previous Soviet Union. His final journey past these international locations was to China in October.
