Oil talks between Russia and Saudi Arabia postponed until April 9th

A spokesman for the Russian president Dmitry Peskov advised waiting for the teleconference of oil-producing countries to get an answer to the question of what percentage Moscow considers to be a partner.

“It is necessary to wait for the teleconference [of the oil producing countries],” the representative of the Kremlin noted, adding that preparations for it are already underway.

According to Peskov, a video conference of oil-producing countries was scheduled for April 6, but later for technical reasons was postponed to April 9.
The Kremlin representative also did not answer the question of whether the United States will participate in the reduction of oil production, asking to wait for a teleconference. He confirmed that stabilizing the market would require the participation of countries that had not previously participated in coordination.

Peskov recalled the words of President Vladimir Putin that Russia is ready to participate in reducing global oil production by about 10 million barrels per day.

After the failure of the OPEC + deal to reduce production in early March, oil prices fell. Then, Russia indicated the need to maintain existing conditions, while Saudi Arabia insisted on an additional reduction in production. The price of Brent oil fell to $ 25 per barrel for the first time since 2003.