Russia, US and Saudi Arabia have lend support to an agreement on phased cut in oil production reached by the Organisation of the Petroleum Exporting Countries (OPEC) and some other major oil producing countries, the Kremlin said Sunday.
In a statement, the Russian President’s office said Vladimir Putin had a phone conversation with US President Donald Trump and Saudi Arabia King Salman bin Abdulaziz Al Saud.
"The leaders supported the agreement reached by the OPEC+ on the phased voluntary reduction of oil production in order to stabilize global markets and ensure the sustainability of the global economy as a whole," the statement said.
The OPEC and other crude producers led by Russia, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May-June after four days of talks.
Putin and Trump also held a separate phone conversation, according to the statement.
"The exchange of views on the situation in the oil markets was continued. Once again, the importance of the OPEC+ deal to reduce oil production was noted," the statement said, adding that topical issues of ensuring strategic security were also discussed.